Trump's Section 232 Tariffs Cost $900K for Every U.S. Steel Sector Job

SEATTLE (Scrap Monster): The Trump administration faces growing pressure from Republicans to remove the hefty tariffs on steel and aluminum imports into the country.

This follows the recently published study report by experts at the Peterson Institute for International Economics, which states that the U.S. consumers and businesses are paying more than $900K per annum for every single job created or secured by Trump’s steel tariffs. The cost is over 13 times the average salary of a steelworker in the country, says Labor Department data.

Meantime, supporters of tariffs including the Alliance for American Manufacturing claim that tariffs have led to creation of more than 12,700 well-paying jobs at domestic steel and aluminum manufacturing plants across the country. Furthermore, the substantial investments at local mill facilities since the introduction of the tariffs in March last year should benefit the industry in the years to come, they said.