Costs of Trump tariff

Trump has recently instated a 25 percent tariff on steel in an effort to “stop losing” and “start winning” the trade war. But who is affected by the tariff? Well, most obviously, American steel workers are better off, as the steel companies will now be doing more business since foreign steel is now far more expensive.

But what about the steel buyers? One may initially think that only a small minority of people in the U.S. are buying steel, and the average citizen has no interest in buying foreign steel, so maybe the tariffs help more Americans than they hurt. But consider for a moment who is now paying higher prices for steel.

Any company that makes stainless steel products is paying more, so whoever buys stainless steel products will also have to pay more. Companies who make appliances use steel, so they will also be paying more, which means appliances will be more expensive too. Steel is widely used in construction, so those prices will go up, and a large part of the steel market is occupied by car manufacturers, so anyone who buys cars will be paying more as well!

These are just a few products that use steel. It is easy to see how many people will be affected negatively by these steel tariffs, so the question becomes: Is it worth it to help the small minority of steel producers at the cost of hurting nearly every other American?

JAKE BASS

Conway