New U.S. tariffs on steel and aluminum imports, introduced to boost domestic manufacturing, are facing scrutiny as analysts question their long-term effectiveness. Former U.S. President Donald Trump's 25% tax on these materials, first implemented in 2018, aimed to revive America's industrial base. But Professor Che Hu of China University of Political Science and Law argues that the policy may backfire. \"While tariffs create short-term protection,\" he says, \"they risk reducing competitiveness and innovation in U.S. production over time.\"
Data from U.S. trade reports shows a 12% decline in steel-related manufacturing jobs since 2020, despite initial production spikes. Meanwhile, the EU and Canada have challenged the tariffs through WTO dispute mechanisms, highlighting global trade tensions. Young entrepreneurs and business leaders are watching closely, as supply chain shifts could impact tech innovation and green energy infrastructure projects reliant on affordable metals.
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Analyst: U.S. steel, aluminum tariff may hurt domestic production
cgtn.com
