It is more expensive to produce goods in the United States, particularly (electrical) machinery and tech modules. Therefore, the residual benefit for both companies and workers is elusive, since production abroad results in an elevated profit margin.
Foreign retaliatory measures almost always convolute the tariff process, canceling out benefits for all parties involved.
It worked – he got elected and put “a 25% tariff on all of the dumped steel all over the country” (Trump). However, four years later, we see a minuscule increase in domestic steel-working jobs, increased tension abroad, and even solvent reprisal from China.
Economic gains and increased job numbers were the result of Obama-era policies