Tariffs are taxes. They cost consumers and they cost manufacturers. Sometimes they cost people’s jobs. Tariffs are almost always tools of cronyism.
(From The Washington Examiner)
As we predicted repeatedly, the metal tariffs that Trump imposed with a thin pretext of national security have fallen heavily upon the many U.S. manufacturers that use metals as an input. These manufacturers — the people who make everything from cars down to cans — create and sustain far more American jobs than do the few remaining American companies that actually manufacture steel and aluminum.
The article goes on to make the point that politics and trade should be as separate as possible. Politicians inserting themselves into the market cause disruptions and pain. We are seeing this now in manufacturing and in the farming sector.