US steel tariffs have proven the disaster every economic analyst predicted. Since the imposition of steel tariffs in March, steel prices have risen 30 to 50%, and manufacturers are unable to obtain needed steel supplies. Steel shortages are forcing layoffs and it is estimated that 8 times as many jobs will be lost in the steel-consuming sector than will be saved by steel producers. Tariffs mean heightened prices for the American consumer, as well as higher prices -- and loss of U.S. competitiveness -- on exports. But in the Exclusions Register it is understood the Japanese are mildly impressed with recent additions.
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