BusinessQuiet 84d · day 85
Bloomberg: Trump's Steel Tariffs Failed to Revive US Factory Jobs
Eight years of tariffs added investment to steel mills but almost no jobs, while consumers pay more for goods like canned soup.
What to know
- US steel mills added only about 1,300 jobs since 2018 despite years of tariff protection, in a labor market of 170 million.
- Since Trump returned to office in January 2025, overall US manufacturing employment fell by 75,000 jobs.
- The administration is pursuing new tariffs after earlier tariff measures were struck down in court or expired.
- Consumer prices for goods such as canned soup have risen as a result of the tariffs, per Bloomberg's reporting.
Donald Trump US President
White House Administration implementing tariff policyUS steel industry Sector targeted by tariff protections
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