I don’t see one either.
Is There a Tariff End Game? [Paul Krugman] – “So I’m not convinced that the worst is over. In fact, I’m not convinced even though the U.S. Court of International Trade has pronounced Trump’s invocation of IEEPA, the International Economic Emergency Powers Act, to impose tariffs without Congressional approval illegal. (A colleague of mine used to return student papers with the comment YHTMAAAIYP — “you have too many acronyms and abbreviations in your paper.”)”
Paul Krugman digs into the numbers and there are a lot of good insights in this piece, including: “You might think that we have so few steelworkers because we import it all, but we actually only import 27 percent of consumption, with the other 73 percent produced domestically. The point instead is that steel production is highly capital-intensive and just doesn’t employ many people — so steel tariffs can’t possibly create enough jobs to replace those lost elsewhere in manufacturing.”