The steelworkers are doing better, but at what price? Donald Trump has imposed tariffs that have put the American farmers not just on the edge of the cliff where farmers so often stand, but with just their heels on solid ground. Many of them trust the president to do the right thing. Unfortunately, they should not. Here is what else is happening.
Trump sent out an early morning retweet complimenting him from the United Steelworkers union:
‘“The President is the biggest and best supporter of the Steel Industry in many years. We are now doing really well. The Tariffs let us compete. Was unfair that the Steel Industry lost its jobs to unfair trade laws. Very positive outcome.” Mark Glyptis, United Steelworkers.’
The tariff trade war with China and other countries has already had serious consequences for other industries. How good can the steelworkers feel when so many others are suffering?
According to the The Wall Street Journal., a new research paper from the San Francisco Fed noted that imports have been so very important, because they are found in American-made products, like Jeeps:
‘Almost half of the total expenditures on imports is embedded in the production of U.S. goods and services that use imported intermediate inputs. The relatively sizable role of imported intermediates means that, by raising producers’ costs, tariffs could boost not only the prices of imported goods but also the prices of domestically produced goods.’
Twitter world went wild. Check out some of our favorites below:
Featured image is a screenshot via YouTube.