Jobs

“Overall, the new penalties will affect about $3 Billion worth of US goods. The tax rates vary depending on the product, but most of them are high: There’s a 20 percent tariff on US pork shoulder and legs, and some bourbons and cheeses will be hit with 20 to 25 percent tariffs… Those kinds of taxes will make US goods a lot more expensive in the Mexican market and can dampen demand for them over time. That, in turn, would deal a blow to the US businesses that export them, forcing them to downsize operations and lay off workers.”   More …

“We find the tariffs would result in a net loss of over 400,000 jobs after accounting for positive impacts on U.S. steel and aluminum producers. Overall, sixteen jobs would be lost for every steel/aluminum job gained.”  More …

“Since June 1, companies that buy steel and aluminum from Canada, Mexico and the European Union have felt the sting of a 25 percent tariff on steel and a 10 percent tariff on aluminum. The tariffs also have triggered countermeasures from U.S. trading partners on a plethora of Wisconsin goods, including Harley-Davidson motorcycles, cheese, yogurt, pork, cranberries, sweetcorn, ginseng, wood, boats, paper and shoes.”   More …

“U.S. steel prices have risen nearly 40% since January and are now 50% higher than in Europe… Studies show that a combined 760,000 jobs could be lost from the tariffs already enacted as well as those being considered on autos and auto parts. And if the administration carries out its threat to withdraw from NAFTA, an additional 1.8 million U.S. jobs could be lost in the first year alone.”   More …

“The company’s operation in Michigan reveals how it’s dominated the industry by going into economically depressed areas with lax water laws.”  More …