Auto industry?

Question

was the auto industry helped or hurt by the tariff placed on imported steel in 2002?

Answer 1

Hurt.  The Big Three bought most of their steel from companies overseas because it was less expensive and equal or better quality than American steel.  The tariff raised the price on steel, so now it costs The Big Three more to buy foreign steel.  I know they did it to encourage "Buy American," but the consumer is the one who ultimately has to pay the price.