President Donald Trump's proposed 25 per cent tariff on steel imports, and 10 per cent on aluminium, will benefit those industries in America in the short term.
But in the longer term, they are likely to create net job losses across the economy, as the effect of higher steel prices drives prices up for US consumers, at least one study says.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
