Johnson: Works in a steel mill in Ohio
Williams: Needs a new car in Alabama
Jones: Manufactures steel planters in Indiana
Jackson: Runs a pork packinghouse in Iowa
Government enforces steel tariffs. Price of steel in the US increases.
Johnson sees some job security and his plant hires a few. Net gain.
Williams, and everyone like him, pays more for their cars due to the increase in the cost of steel. Net loss.
Jones, discovers the price elasticity of demand for steel planters won’t sell with a price increase. Plant shuts down. Employees laid off. Net Loss.
China responds with an increase in tariffs on American pork.
Jackson sees pork sales plummet. Packinghouse sees major swoon. Workers laid off. Net loss.
Similar scenarios hit a thousand other people.
Trump: “Saving steel jobs is making America great again”.