Ana Swanson

So other countries were not thrilled about this. They were quite angry. They responded by putting their own tariffs on American products, and they targeted some quintessentially American goods like blue jeans, Harley-Davidson motorcycles, whiskey. Suddenly, those products were going to get much more expensive in foreign markets because of those tariffs, and that would mean U.S.

So other countries were not thrilled about this. They were quite angry. They responded by putting their own tariffs on American products, and they targeted some quintessentially American goods like blue jeans, Harley-Davidson motorcycles, whiskey. Suddenly, those products were going to get much more expensive in foreign markets because of those tariffs, and that would mean U.S.

exporters would lose out. And American allies were also really upset by the concept that, you know, their exports of metals actually threatened U.S. national security. So particularly countries like Canada, which supplies metal for the U.S. military, thought it was pretty outrageous to be labeled a national security threat to the United States.

exporters would lose out. And American allies were also really upset by the concept that, you know, their exports of metals actually threatened U.S. national security. So particularly countries like Canada, which supplies metal for the U.S. military, thought it was pretty outrageous to be labeled a national security threat to the United States.

So it definitely worked. Demand for U.S. steel and aluminum grew, and U.S. steel factories started pumping out more metal. And there was a government study that showed that by 2021, U.S. steel production had increased by $1.5 billion a year.

So it definitely worked. Demand for U.S. steel and aluminum grew, and U.S. steel factories started pumping out more metal. And there was a government study that showed that by 2021, U.S. steel production had increased by $1.5 billion a year.

It did, but it also had a downside for other industries because there are a lot of industries in the United States that use steel and aluminum to make other things like cars or food packaging. Mm-hmm. So for those companies, they had to pay higher prices for the steel that they were buying to make into other products. And that ended up hurting them.

It did, but it also had a downside for other industries because there are a lot of industries in the United States that use steel and aluminum to make other things like cars or food packaging. Mm-hmm. So for those companies, they had to pay higher prices for the steel that they were buying to make into other products. And that ended up hurting them.

If you look at it from the perspective of car manufacturers, for example, you had the Ford CEO saying at one point that the metal tariffs had already cost the company a billion dollars in profit. Wow.

If you look at it from the perspective of car manufacturers, for example, you had the Ford CEO saying at one point that the metal tariffs had already cost the company a billion dollars in profit. Wow.

So the same study showed that as a result of those higher steel and aluminum tariffs, companies that use steel because they faced higher prices, their production actually went down by more than the production of the steel industry went up.

So the same study showed that as a result of those higher steel and aluminum tariffs, companies that use steel because they faced higher prices, their production actually went down by more than the production of the steel industry went up.

Yeah. So you could say, you know, yes, it accomplished its national security goals. Yes, it helped the steel industry. But in terms of overall U.S. manufacturing, the impact in the years right after the tariff was negative. But As it turns out, the tariffs were politically popular.

Yeah. So you could say, you know, yes, it accomplished its national security goals. Yes, it helped the steel industry. But in terms of overall U.S. manufacturing, the impact in the years right after the tariff was negative. But As it turns out, the tariffs were politically popular.

So one study showed that people living in areas more affected by Trump's tariffs were more likely to vote for Trump in 2020. And I think that stems from the feeling that even if tariffs didn't actually benefit these people, they felt that at least Trump was trying to do something about U.S. manufacturing.

So one study showed that people living in areas more affected by Trump's tariffs were more likely to vote for Trump in 2020. And I think that stems from the feeling that even if tariffs didn't actually benefit these people, they felt that at least Trump was trying to do something about U.S. manufacturing.

And so when Biden comes into office in 2020 and has his chance to create a trade policy, he keeps some of the Trump tariffs, but also decides to try something fundamentally different.

And so when Biden comes into office in 2020 and has his chance to create a trade policy, he keeps some of the Trump tariffs, but also decides to try something fundamentally different.

So Biden does choose to keep some of Trump's tariffs, but he has a different philosophy of the best way to protect American jobs. His approach is all about industrial policy. So using government dollars to help nurture manufacturing industries in the United States.

So Biden does choose to keep some of Trump's tariffs, but he has a different philosophy of the best way to protect American jobs. His approach is all about industrial policy. So using government dollars to help nurture manufacturing industries in the United States.