it's true this would help americans who make steel, because their competitors' products coming in from abroad would be more expensive. but there are only about 150,000 american workers who make steel. that is dwarfed by the 6.5 million americans who work in industries that buy and depend on cheap steel, writes douglas irwin, dartmouth economist of foreign affairs. including everything from small tool manufacturers to large defense firms. goldman sachs says general motors and ford could each lose $1 billion this year because of the steel tariffs. the trump administration is looking into tariffs on another $200 billion worth of chinese goods and has threatened automobile tariffs on allies. creating 200,000 jobs, according to the peterson institute. listen to larry summers.