Why Trump’s Tariffs Didn’t Help Create More Steel Jobs
“Throughout his presidential campaign, Trump told voters in industrial battleground states such as Ohio and Indiana that he would enact trade policies that would spark a revival in steel jobs. In February 2018 the Commerce Department determined that steel imports threaten the viability of the American steel industry, endangering U.S. national security. So the department recommended Trump impose 24 percent tariffs on imported steel to boost capacity utilization among domestic producers to 80 percent, from about 74 percent. Nucor Chief Executive Officer John Ferriola told Bloomberg News in May that an 80 percent capacity utilization level was ‘the minimum needed for the industry’s long-term financial health and viability.’”