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The Guardians of Democracy

Study: Trump’s Steel Tariffs Could Cost The U.S. Auto Industry 45,000 Jobs

NEWS

Study: Trump’s Steel Tariffs Could Cost The U.S. Auto Industry 45,000 Jobs




President Trump’s decision to impose a 25 percent tariff on steel imports could cost the U.S. auto industry 45,000 jobs, equivalent to almost a third of the entire steel industry’s workforce, according to a study by the Council on Foreign Relations.

The analysis estimated that a 25 percent tariff on steel imports would raise the price of U.S.-manufactured vehicles by 1.3 percent on average and in turn, would lead to a 4 percent drop is U.S. auto sales around the world and a 45,000-person reduction in the auto workforce.

“Given that employment in the U.S. auto industry is vastly higher than in the U.S. steel industry, such job losses would swamp any possible increase in steel employment,” the analysis said.

The analysis did not account for an exemption for certain countries, which Trump is said to be considering.






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