Silver Lining or Smoke Screen?

Silver Lining or Smoke Screen?

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Workers at a steel mill. Workers at a steel mill.

Aug 16, 2018

NASHVILLE, Tenn (RFD-TV) Opinions differ on whether recently implemented tariffs help or harm American businesses. The Coalition For A Prosperous America says the duties have created more than 11,000 good jobs since February. This includes nearly 5,000 steel manufacturing jobs and just under 2,900 jobs in the aluminum sector. The group calculated the numbers by tracking public announcements on new or planned jobs as the result of recent tariffs. 

One group is pushing back on these estimates: The Coalition of American Metal Manufacturers and Users say, “The CPA and their steel industry allies would do well to look around them and take note that the steel industry’s fortunes do not occur in a vacuum as CPA’s farm business members know all too well right now.” 

Retaliatory duties have cause anxiety in other sectors as well. The Federal Reserve Bank of Atlanta finds 20% of firms are reviewing investments, and 60% of those firms say they’re doing so because of tariff concerns. Only 6% report actual cuts in response to new duties.

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