Business Report: What happens if Trump does steel tariffs - Hawaii News Now - KGMB and KHNL

Business Report: What happens if Trump does steel tariffs

Image: Hawaii News Now Image: Hawaii News Now
HONOLULU (HawaiiNewsNow) -

Here are two guys who work at U.S. factories.  The guy on the left works in a U.S. steel mill.  The guy on the right works at a factory that USES steel, perhaps imported steel. How do they view this matter?

The steel mill guy is egging Trump on – go ahead, slap foreign steel with tariffs, which we WON'T have to pay, and when their prices are as high as ours, we can expand and hire people.  The factory worker whose plant USES steel is upset because this will increase costs.  So: who's right? Both are.  The question is, how many actual American workers do these guys represent?

U.S. steel mills employ 140,000 Americans. But companies that USE steel employ 6.5 million. This is why a move Trump says will *create* jobs, economists say will kill jobs.

Copyright 2018. Hawaii News Now. All Rights Reserved.

Powered by Frankly