UMN Expert: Steel and aluminum tariffs
Multiple media outlets are reporting that President Donald Trump plans to finalize details on steel and aluminum tariffs.
University of Minnesota expert Robert Kudrle, a professor in the Humphrey School of Public Affairs who specializes in economic policy and international economic relations, is available for comment.
Robert Kudrle, Ph.D.
“Although erratic steel imports from abroad hurt employment stability in some areas, ongoing protection of the steel industry from lower cost foreign competition greatly damages American industry as a whole and raises prices for American consumers.
Previous presidents have varied in their resistance to the highly concentrated special interests that favor protection. The Trump administration appears to serve more as cheerleader for than a counterweight against those interests. In this matter and on other trade issues, there is the additional danger of a trade war that greatly magnifies the original damage.”
Robert Kudrle is the Freeman Professor of International Trade and Investment Policy in the Humphrey School of Public Affairs. He specializes in economic policy, international economic relations and tax policy. A Rhodes Scholar, Kudrle holds a doctorate in economics from Harvard University and a master of philosophy degree in economics from Oxford University.