Estimated employment effects of steel and aluminum trade restraints in studies by Francois and Baughman
| Steel Revitalization Act of 2001* | 2018 Steel and Aluminum tariffs*** | ||||
|---|---|---|---|---|---|
| column # | 1 | 2 | 3 | 4 | |
| line # | Full employment | Less-than-full employment** | Less-than-full employment*** | Implied estimate at full employment | |
| 1 | Direct—steel /and aluminum | 3,674 | 3,514 | 29,998 | 31,364 |
| 2 | Indirect manufacturing and construction—metal consuming industries | -19,021 | -32,414 | -60,923 | -35,750 |
| 3 | “Difference” (net impact, direct plus indirect) | -15,347 | -28,900 | -30,925 | -4,387 |
| 4 | Induced effect**** | 0 | -115,160 | -114,946 | 0 |
| 5 | Net job effect economy-wide | -15,347 | -144,060 | -145,870 | -4,387 |
*Francois and Baughman (2001), Table 3a and 3b, 9-10, total impacts of quotas and steel tax
**"Where wages are held fixed and employment levels adjust" (Francois and Baughman 2001, Appendix A-4)
***Francois and Baughman (2018)
****"This includes jobs lost elsewhere in the economy as income losses in steel-using sectors feed back through the rest of the eocnomy" (Francois and Baughman 2001, Table 3b, 10)