Protectionist Tariffs Cause Major Job Losses
Created on August 16, 2016
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President Bush approved steel import tariffs of up to 30 percent in 2002. Over the course of that year, nearly 200,000 Americans working for companies that rely on steel lost their jobs, with 53 percent of the losses occurring in just 10 states.
Source: Dr. Joseph Francois and Laura M. Baughman, “The Unintended Consequences of U.S. Steel Import Tariffs: A Quantification of the Impact During 2002,” Trade Partnership Worldwide, LLC, http://www.tradepartnership.com/pdf_files/2002jobstudy.pdf (accessed April 29, 2016).
CHART 4 • BG 3134
Tags: Michigan, trade, auto-industry, investment