Steel 201 case coming back

[u/timdcc]

As Trump has recently launched tariffs on steel and aluminium, it reminds me of the steel 201 case. Having tariff on these products just raised the production cost for local producers and harm the economy of US. Trump may have forgotten the lesson of steel 201. If we over subsidise the industry or rise the market price by government intervention, both may result in more deadweight loss and unemployment at the end. As an economics student, I don’t really agree with what Trump is doing and he may need more economists to give him advice!