Trump's Tariffs May Destroy Jobs Rather Than Create

President Donald Trump announced Thursday he will impose large tariffs on imported steel and aluminum to protect U.S. producers. Trump said the duties of 25 percent on steel and 10 percent on aluminum would be officially announced next week. The president says the tariffs will protect American jobs. Many economists say the impact of price increases for consumers of steel and aluminum will destroy more jobs than they create. American steelmakers have lost three quarters of their jobs between 1962 and 2005, according to the American Economic Association.