For Immediate Release
August 13, 2018
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CPA Tallies Jobs Created by Tariffs
More Than 11,100 Good Jobs Created Since February
Washington. The Coalition for a Prosperous America (CPA), has determined that at least 11,100 new jobs have been created since February 1 as a result of the protective tariffs imposed on imported solar panels, washing machines, steel, and aluminum. The finding arises from the initial results of CPA’s “Tariff Job Creation Tracker” (TJCT), which monitors the jobs created as a result of the administration’s tariff actions. The tally is conservative because the numbers include only those positions where companies have publicly announced new or planned job counts.
CPA Chair Dan DiMicco said, “President Trump’s safeguard actions are working well, and are already having a direct effect on US manufacturing. We’re very pleased to see the results that come from enforcing America’s trade laws, and we expect more high-paying jobs to keep coming online.”
The TJCT was compiled by the CPA research team led by economist Jeff Ferry. Dozens of individual company announcements show a steady stream of new jobs in affected industries, trends also supported by the government BLS data, said Ferry.
“The national media is generally ignoring the job creation arising from the country’s new strategic trade posture. This information is important. These jobs will have substantial positive effects on local economies and the national US economy,” said Ferry. “They are in general well-paid manufacturing jobs in high-productivity businesses. Those new jobs will contribute to the creation of thousands of service sector jobs and they will stimulate local economies.”
In January, the president announced section 201 safeguard tariffs on imported washing machines as well as solar panels and cells, which went into effect in March. In March, President Trump announced section 232 national security tariffs on surging imports of subsidized steel and aluminum which went into effect June 1. The president is also imposing section 301 tariffs on $50 billion worth of Chinese goods produced via intellectual property theft, forced technology transfer, and cyber-attacks. However, CPA’s job creation numbers do not yet include the impact from those 301 tariffs.
Michael Stumo, CEO of the CPA, praised the tariffs as an important step toward rebuilding US industrial capacity. “We’ve long recognized the direct connection between manufacturing strength and a vibrant middle class,” said Stumo. “Recent administrations simply acquiesced to a quarter-century of predatory trade from China. It’s past time to take action, and it’s gratifying to see how quickly manufacturing is coming back to the US now that we are implementing the beginnings of a national trade strategy.
The TCJT shows a tally of 11,100 manufacturing jobs created, including notable increases in both domestic steel and aluminum production. Over the past six months, 4,960 new steel jobs have been created or announced across the US, with another 2,899 jobs in the aluminum industry.
Stumo adds that the longer term impacts of the administration’s tariff measures, particularly for emerging industries like solar panels, will mean further job creation. “This is just the beginning. With a second tranche of tariffs being announced on 279 additional lines of Chinese imports, we expect to see more job creation in the months ahead for a broader range of affected industries.”
About CPA: The Coalition for a Prosperous America is the nation’s premier organization working on the intersection of trade, jobs, tax, and economic growth. We represent the interests of 4.1 million households through our agricultural, manufacturing, and labor members.
Paola Masman
http://www.prosperousamerica.org/ |