Bernanke and Other Heavyweights Warn Trump Against Steel Tariffs
- Government told import tariffs would raise consumer prices
- Relations with friendly nations also under threat: economists
Nucor CEO Encouraged by Trump's Steel Stance
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Former Federal Reserve chairmen Ben Bernanke and Alan Greenspan and other leading economists are warning President Donald Trump that new tariffs on foreign steel would raise costs for U.S. manufacturers, increase prices for consumers and harm relations with allies.
Countries from Canada to China have been bracing for the result of a Commerce Department investigation into whether steel imports threaten U.S. national security. Officials within the administration have been debating several options, including raising tariffs on steel imports, according to people briefed on the discussions.