What are the tariffs being proposed now?

Tiras25
Tiras25 used Ask the Experts™
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What are the tariffs president is pressing on and how would it affect our economy in US?  I am afraid there will be a tariff for all the goods imported from asia and that would definitely hurt our economy.   Sorry this maybe belongs to the Lounge for the discussion.  Not sure.  If so, please move it in there.

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Director, Information Systems
Commented:
Trump is proposing a 25% tariff on steel and a 10% tariff on aluminum, with some countries possibly excepted.  

It's unclear how this action will affect our economy.   The cost of steel and aluminum will both go up, obviously, and it's likely the cost everything made in the US that uses steel or aluminum will also go up.  The real question is will any jobs be saved/created, and will these jobs outweigh any job losses from the tariffs?  Given the steel surplus was temporary, (presumably) unintentional, and that we only get a small portion of our steel from China, most experts think implementing tariffs is a bad idea.

We saw something similar when tariffs were implemented on imported solar panels.  It was good for the domestic solar panel industry because they could raise prices (charge you and me more), but didn't really create any jobs there.  Conversely, the solar panel installation industry lost jobs because now there weren't enough solar panels to install.
Lucas BishopMarketing Technologist
Commented:
Hard to say exactly what the effects are going to be. But using history as an indicator, here are some similar tarrifs to read up on as a point of reference:
https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act
https://en.wikipedia.org/wiki/2002_United_States_steel_tariff

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