U.S. Tariffs May Add 19,000 Steel and Aluminum Jobs, Group Says
- Labor gains will offset job losses in other industries: group
- Coalition for a Prosperous America see GDP hit by $1.4 billion
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U.S. tariffs on aluminum and steel imports will add thousands of jobs at domestic producers, offsetting labor losses in other industries, while economic growth will slow by a tiny percentage, according to the Coalition for a Prosperous America.
The study is from the nonprofit organization, which has supported the U.S. administration’s skepticism toward free trade. The group estimates President Donald Trump’s 25 percent tariff on steel imports and 10 percent tariffs on aluminum will add about 19,000 jobs, making job losses downstream and in other parts of the economy negligible. The impact would hit the economy by $1.4 billion, or 8/1000th of 1 percent of U.S. gross domestic product, the organization said.