The Failure Of Trumponomics


Trump’s tariffs on steel — claimed to be necessary on national security grounds — similarly backfired. They may have supported the US steel industry, which employs only 140,000 Americans and contributes only US$40 billion to the economy, but they did so at the cost of the industries that use that steel as an input, which collectively employ 6.5 million Americans and contribute more than US$1 trillion to the economy.

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