Decline in employment/ increase in output. I suspect manufacturing employment is declining while output is increasing has to do with technological advances in automation and other processes in production.
Protecting manufacturing industries fro international trade. There is a balance between protection and participation. To protect in the sense that manufacturing is not putting in the best effort to provide the best product in competition with international trade is a cop out in my opinion. We need to balance the best of both worlds so to speak to provide quality products and employment in an effort to help everyone be better off.
Who is benefiting and loosing on tariffs on steel and aluminum. Cost from tariffs are ultimately passed on to the consumer. If a tariff is charged on an import the cost of the of the good will increase to balance the incurred cost. In the case of steel for manufacturing tractors for example that cost is passed on to the consumer purchasing the tractor. Increased cost of steel increased cost of tractor. The government will benefit from the increased revenue from the tariff.
Will more people benefit than loose? I suspect more people will loose. If one country has a tariff and another country does not steel will most likely be sold to the country with out the tariff. Reducing the supply of tractors in the tariffed country increasing cost. If steel is purchased in the tariffed the pass along cost will increase the cost of tractors and even limit the number of tractors available because of the cost of materials. In my opinion the benefit of the tariff does not out weigh the cost to those building tractors, buying tractors and maybe ultimately increasing food cost because of the impact of not having equipment required to do so.
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