Global Macro Service > Research Briefings > United States

Section 232 tariffs to hurt US manufacturers & kill jobs

Sectoral scenario analysis of Donald Trump’s proposed Section 232 tariffs (in which we assume no exemptions) reveals that the small benefits to domestic metal-producing industries will be drowned out by job and output losses in metal-using sectors. We think they will lead to a net loss of at least 70,000 manufacturing jobs over the next two years and a modestly slower growth rate of overall manufacturing activity. Metals production outside the Americas will likely be little affected, and Canada and Mexico will benefit from exemptions assuming they are agreed.

To read the full briefing please
If you are not a subscriber, request a free trial of our Global Macro Service by filling out the form below