President Donald Trump’s tariffs on imported steel and aluminum are not costing American jobs as free traders had claimed they would, a new report by Bloomberg Businessweek admits.
For the last year, free trade organizations, the Chamber of Commerce, and the establishment media has claimed that Trump’s 25 percent tariffs on imported steel and ten percent tariff on imported aluminum would cost hundreds of thousands of jobs.
Now, free traders admit that the tariffs have not cost the U.S. any jobs.
A Bloomberg Businessweek report by Peter Coy notes that not only have Trump’s tariffs on imported metals not cost Americans their jobs, but they have also actually had the opposite impact, spurring job growth in the metal industry and manufacturing.
Trade blogger Alan Tonelson notes that the most recent jobs figures for September once again disprove the claims made by free traders, writing that the data “expose as nonsense the long string of news reports claiming that President Trump’s metals tariffs are already causing tremendous damage to American domestic metals-using industries.”