The tariffs on steel imports benefited domestic steelmakers, but the president exaggerates the changes for the industry.
Democratic presidential candidate Kamala Harris wrongly claimed that “as many as 300,000 autoworkers may be out of a job before the end of the year.” That’s a high-end estimate for total job losses — not solely among autoworkers — due to the potential impact of the Trump administration’s trade policies, including actions not yet taken.
Tariffs imposed by the Trump administration have a small, negative impact on gross domestic product growth, according to economists, the Congressional Budget Office, the International Monetary Fund and the top White House economic adviser. That contradicts President Donald Trump’s repeated claim that the tariffs have boosted the GDP.
President Trump falsely claimed that the U.S. has “never taken in 10 cents from China” in tariffs, but “now we’re taking in billions and billions of dollars.” The U.S. has collected billions in customs duties on Chinese imports for years, although the amount has increased since the trade war with China began.