Independent economists Dr. Joseph Francois and Laura M. Baughman of the Trade Partnership Worldwide, LLC have issued a Policy Brief which estimates the impact on the US economy of the tariffs and retaliation by trading partners. The brief includes state-by-state job losses in every state. Some highlights include:
- The tariffs and retaliation would increase US steel employment and non-ferrous metals (primarily aluminum) employment by 26,346 jobs, but cost a net of 495,136 jobs throughout the rest of the economy, for a total net loss of nearly 470,000 jobs;
- 18 jobs would be lost for every steel/aluminum job gained;
- More than two thirds of the lost jobs would affect workers in production and low-skill jobs.
AWPA members are encouraged to provide this brief to your Members of Congress!