Trump tariff could destroy 45,000 auto jobs: study
By Niv Elis - 03/08/18 01:28 PM EST
President Trump’s proposed 25 percent tariff on steel imports could cost the U.S. auto industry 45,000 jobs, equivalent to almost a third of the entire steel industry’s workforce, according to a study by the Council on Foreign Relations.
The analysis, by CFR’s Benn Steil and Benjamin Della Rocca, estimated that a 25 percent tariff would increase the price of U.S.-manufactured vehicles by 1.3 percent on average. That, in turn, would lead to a 4 percent drop is U.S. auto sales around the world, and a 45,000-person reduction in the auto workforce.
That figure represents a small percentage of the auto industry’s work force, but amounts to almost a third of the steel industry’s work force.
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http://thehill.com/policy/finance/377426-trump-tariff-could-destroy-45000-auto-jobs-study
