Comment by reaperman
1 year ago
It takes (up to) 456.23% import tariffs[0] to achieve that 17%.
So you pay china $1 million for some amount of steel (via vietnam) and then pay the us gov $4.56 million for a total cost of $5.56 million.
It’s amazing that so many steel companies are still underperforming in the USA seemingly in spite the intense protectionism.
0: https://www.latimes.com/business/la-fi-us-vietnam-steel-trad....
So, essentially, we can all become factory workers if we're willing to accept a drastic decrease in our standard of living.