Trump either doesn't know or doesn't care about the basics of trade. He implements policies that he thinks will sound good on tv, damn the consequences. Instead of taxing imported "finished goods" (products) which we have a competitive edge in, he taxes "inputs" (raw materials) which our high-tech manufacturing needs as cheap as possible. This likely means we're going to trade higher-wage jobs for a few lower-wage jobs. And the specific tariffs are mostly harming our closest allies' economies, giving China more leverage.
The Mid-Continent Nail plant in Poplar Bluff, Missouri, laid off 60 of its 500 workers last week because of increased steel costs. The company blames the 25% tariff on imported steel. Orders for nails plunged 50% after the company raised its prices to deal with higher steel costs.
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Glassman called President Donald Trump's trade policy misguided. He noted that the company had doubled its work force since 2013, and thrived despite increased competition from China.