A recent Liberty Street Economics post by Mary Amiti, Sebastian Heise, and Noah Kwicklis of the New York Fed analyzes the impact that new steel tariffs will have on U.S. jobs. The authors found that the biggest impact could be felt in steel-related industries rather than the steel industry itself. Firms that depend on steel and aluminum could see increased prices, which would impact hiring and potentially cause plant shutdowns. Another potential outcome of the tariff increases is retaliation by other countries. Ultimately, the authors argue that the steel tariffs will likely cause more job losses than gains in the short- to-medium term. Read the full post here.
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