Summary
The U.S. will impose 25% tariffs on all steel and aluminum imports starting March 12, eliminating previous exemptions.
This move has been met with strong condemnation from key trading partners, including Mexico, Canada, and the European Union, who have threatened retaliatory measures.
Businesses across various sectors are grappling with the potential impact, facing increased costs and uncertainty about future investments and supply chains.
He did that already in 2018 and they expired in 2024.
https://www.aeaweb.org/articles?id=10.1257%2Faer.20190611
Tariffs resulted in a pass through cost greater than 100%.
They also find the employment effect (1800 jobs, not 2000) but the cost to the public of those jobs was $800,000+ each.