Bush's 2002 steel tariffs hurt economy without benefits.
Bush's 2002 steel tariffs hurt local jobs without boosting steel employment, study finds.
Why it matters
- Bush's steel tariffs caused economic harm without benefits.
- Tariffs failed to boost local steel employment.
- They depressed jobs in steel-consuming industries for years.
By the numbers
- Tariffs imposed in 2002.
- Long-term negative effects observed.
The big picture
- Shows unintended consequences of protectionist policies.
- Highlights interconnectedness of global supply chains.
What they're saying
- Short-term protection policies can harm downstream industries long-term.
- Study reinforces interconnectedness of global supply chains.
Caveats
- Study has a low fullness score; some details may be missing.
- Specific employment impact numbers not provided in abstract.
What’s next
- Policymakers should consider long-term impacts of such policies.