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Back the whole process. that s right, in talking about jobs, the steel industry employs 140,000,construction industry, 6.3 million. american manufacturing companies, 6 1/2 million. 13 million versus 140,000, there are better ways to deal with this kind of situation and as has been pointed out we ve seen this movie before not only with george w. bush, but ronald reagan and learned the hard way, you end up doing more harm than good. david: bruce, in fact, we mentioned the jobs numbers being responsible, a the least in part, for the incredible 400-point gain in the dow yesterday. some of it, though, was also because the president has pulled back a little bit on the tariffs, right? well, he could, but i think one of the problems is, is that like this policy, like so many of them, the immigration and so forth, he is not either not seeking advice, getting advice of his advisors or it s just so scatter-shot and he doesn t understand and finally, there s a market reaction and that s one t ....
China and their merchantilist policies and not end up shooting up our allies. david: bruce, it s kind of a strange situation. you usually end up siding with unions in situations like this. in this case the unions support what president trump has been doing with regard to tariffs. what do you feel on this? well, i mean, some of them do. i talked to some steel workers union this week and they were saying that this they re worried about their sound bite is that steel is not of high quality, so it seems like you could solve that through a trade agreement over a tax and one of the things that even the steel workers aren t understanding is that, you know, we export a lot of steel. and so, you could and this whole thing that trump is doing could backfire and that wouldn t be good. david: therese, it could backfire also because so many workers involved in manufacturing are using steel and they re going to have to pay more. it s not only the consumers that are going to end up paying more, b ....
breaking news on that terror situation. japanese and the european union this morning, calling on to be excluded from the tariffs on steel and aluminum imports. with the eu chief says as a close trade and security partner of the u.s. the eu must be excluded. back with forbes media editor in chief, steve forbes, forbes magazine bruce japson and therese, good to see you all. steve, japan we already have mexico and canada excluded. right. david: at least until they finish the nafta negotiations. now we have japan and europe. who is left? i don t think there s many left? south korea, brazil and some others. i think what this goes to show, david, that this broad tax was not going to work in terms of dealing with trade abuses and i hope the lesson of this, we focus on real trade abuses with ....
Pelosi? this falls under republicans who control spending. bill, do the federal workers de well, i m not going to get all bent out of shape out of 1.3% increase which is not out of line with private sector increases. however, i would be very upset and i would focus on federal pensions. they re way out of line with compared to what mere mortals like you and me get. kerry, that s true. costs a lot more to employee federal workers. that s true. they get tons of vacation, a lot more job security without accountability unlike private sector workers. when also kills me is this is an aacross the street board 1.3% pay raises. they should be based on merit, not the fact that you belong to a government union, not based on the fact that you re a crony government unionist basically. and bruce talks about wanting to hirt best people. i have friends who went to the harvard kennedy school where i got my masters and they re discouraged from going into public service because of the r rigid pay ....
And redistribute. they can t create real resources. you have to agree with that, don t you? i would say that in the case of the immigration, we don t have a path to citizenship. we don t have a legislation bruce, i m talking about the government saying or the democrats saying the government can give you this, the government can give you that but the government doesn t give anything. it takes and then it redistributes. i would just say it is what it is. i mean, the republicans are they re not they re not offering any solutions. hold on. wait. let him finish. they re not offering any solutions. go ahead, carrie. it takes from my generation. that s what happens. you know what? the immigration bill doesn t do that. whoa. one at a time. talk about migration, bruce. okay. the immigration bill doesn t do. that it would make it would put the folks on a path to citizenship and they would pay taxes. they re already earning money ....