These tariffs are essential for national security and protecting American workers from unfair foreign competition. China and other countries flood the global market with subsidized steel, making it impossible for US producers to compete fairly. At 50%, foreign competitors can't jump over the fence anymore, ensuring American steel jobs stay in America.
Doubling steel tariffs will devastate manufacturing jobs and raise costs for consumers across multiple industries. For every steel job saved, dozens are lost in sectors like automotive and construction that depend on affordable metals. This protectionist approach hurts the broader economy while benefiting a few steel barons.
There is a 50% chance that the effective US tariff rate on goods being imported into the United States will be 9.37% at the end of 2026, according to the Metaculus prediction community.