The Brookings Institution, an economic and geopolitical think tank based in Washington, DC, this week released a study on the industries and communities most effected by retaliatory tariffs imposed by America’s trading partners (China, EU, Canada, and Mexico) in response to the tariffs imposed by the U.S. Administration.
China is responsible for retaliating against 84% of the effected exports, which has propelled scrap into being the fourth largest export industry effected by the retaliation. Canada, Mexico, and the EU have not imposed tariffs on scrap imports, but the study acknowledges that the recycling industry has been greatly affected. The study
also concludes that 650,000 direct and indirect export-dependent jobs are affected by the retaliatory tariffs, and it analyzes the share of exports affected across the regions and cities in the United States. The study is helpful in supporting ISRI messages to lawmakers about the how China’s import policies has greatly impacted the scrap commodity trade.
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