Political decisions by elected officials are largely responsible for a “collapse in pay for the bottom 90 percent” of the labor market since 1979, according to a new analysis of wage stagnation by the Economic Policy Institute, a left-leaning think tank. (Whole story)
December 17, 2018
Supporters of the tariffs imposed by the Trump administration on steel and aluminum are making the case that they have worked as intended, without the huge job losses opponents had predicted. “We found absolutely no evidence of broad, negative impacts on the economy of steel and aluminum tariffs to date,” said Robert E. Scott, senior economist at the Economic Policy Institute, who authored the report with support of the U.S. aluminum company Century Aluminum. (whole story)
CNBC
December 14, 2018
The Trump administration’s tariffs on aluminum imports are leading to new investment in what was a dying industry, according to a new report from the left-leaning Environmental Policy Institute. The report found U.S. aluminum production is expected to increase 67 percent between 2017 and the end of this year because of increased investment. Trump imposed a 10 percent tariff on imported aluminum in June of this year. (whole story)
PBS Newshour
December 14, 2018
President Donald Trump’s aluminum tariff won’t make beer taste better, but it’s succeeded in boosting the economy, according to a report published Tuesday by the Economic Policy Institute. The research, from the left-leaning think tank, argues that tariffs imposed on aluminum and steel have led to increases in U.S. employment, production and investment. (whole story)
Bloomberg
December 14, 2018
— Report: “Aluminum tariffs have led to a strong recovery in employment, production, and investment in primary aluminum and downstream industries,” from The Economic Policy Institute
Politico Pro
December 14, 2018
The Economic Policy Institute (EPI) released new research that shows after Section 232 tariffs were imposed on aluminum (and steel) in March 2018, the domestic producers of both primary and downstream aluminum products have made commitments to create over 3,000 jobs. At the same time, these domestic producers should generate over $3.4 billion in new investments and substantially increase domestic production of aluminum. Robert Scott, director of Trade and Manufacturing Policy Research, explains that in early 2017, the U.S. primary aluminum industry had almost disappeared completely. Between 2010 and 2017, 18 of 23 aluminum smelters shut down, eliminating roughly 13,000 jobs. In 2016, there were three alumina refineries supplying U.S. smelters, and by 2017, only one remained in operation. (whole story)
24/7 Wall St.
December 14, 2018
U.S. aluminum tariffs imposed in March have had their intended impact to date of increasing domestic jobs and production, the Economic Policy Institute said Tuesday. U.S. employment in aluminum industries increased by 300 jobs from the month before the tariffs were imposed to October, the institute’s report said. Meanwhile, U.S. output of both raw alumina and processed aluminum rose 9.8 percent, and the output of rolled and extruded aluminum products rose 9.1 percent, during that same time, the Federal Reserve’s industrial production physical output data indicate. (whole story)
UPI
December 14, 2018
Domestic industry is rebounding, argues EPI study. It’s been months now since the Trump administration raised tariffs on steel and aluminum tariffs, citing the faltering of domestic industries as a national security concern. The industries had long complained about the growth of excess capacity and overproduction in China, where that growth is fueled by a raft of government subsidies. A lot is typically written about the steel tariffs, because steel makes up a larger market. But what has the impact of tariffs been on the aluminum market? A new report from the Economic Policy Institute tackles this question directly. At a press conference today the author and tariff advocates argued the tariffs have actually kinda worked: (whole story)
Alliance for American Manufacturing
December 14, 2018
If you ignore the fact that tariffs are taxes, it’s pretty easy to make tariffs look good. That’s what a report released this week by the Economic Policy Institute (EPI), a union-backed think tank, tries to do. By ignoring the costs of higher taxes on imported aluminum, the EPI study claims that President Donald Trump’s aluminum tariffs have created about 300 jobs at American aluminum manufacturers. In addition, the report claims, American aluminum suppliers and processors have made more than $3 billion in economic investments since the tariffs were imposed—including the restarting of three smelters that had previously been closed—investments that could, eventually, create as many as 2,000 additional manufacturing jobs. (whole story)
Reason.com
December 14, 2018
Today, in a presentation at the National Press Club of Washington, the American Primary Aluminum Association (APAA) in conjunction with Economic Policy Institute (EPI), the Alliance for American Manufacturing (AAM) and the Coalition for a Prosperous America (CPA), addressed the economic effects of President Trump’s steel and aluminum tariffs. As part of this presentation, EPI released a new economic study on the impact the aluminum tariffs have had on the aluminum industry, which shows conclusively that the tariffs are helping boost aluminum production and create jobs. (whole press release, syndicated in dozens of papers)
American Primary Aluminum Association
December 14, 2018