Cost Per Job Saved (Steel Tariffs)
Each steel job preserved by 2018 tariffs cost American consumers roughly $900,000 annually.
The 2018 Section 232 steel tariffs were projected to save approximately 8,700 jobs in the US steel industry. Peterson Institute analysis found that the consumer cost — through higher prices on steel-containing goods across the automotive, construction, and appliance sectors — amounted to roughly $900,000 per job per year. For reference, the median annual wage for a US steel production worker was approximately $53,000. The math does not improve on reread.
Total annual consumer cost increase ($8 billion) divided by number of protected jobs (~8,700), per Peterson Institute for International Economics analysis of Section 232 tariff impacts. Consumer cost estimated via pass-through rate modeling of steel price increases across downstream sectors.