Kind of sheds some light on all those bankruptcies:
The proposed steel and aluminum tariffs President Trump announced last week made domestic steel and aluminum mills very happy. But the potential shift in metal prices has many industries, including construction, expecting higher costs, and may also impact infrastructure spending across the nation.
In a study released yesterday, the D.C.-based Trade Partnership, an economic consulting group, projected that 28,000 jobs would be lost in the construction industry alone due to the tariffs.
Keep in mind, Trump's grandiose infrastructure plan relies heavily on state and local dollars, with the Federal government only pitching in 20% for these projects. Jacking up the cost of steel by 30% pretty much takes bridges completely out of the formula, since they were already too pricey to replace under normal annual budgets. But the same goes to a lesser extent for a lot of other infrastructure projects, like buildings and utility upgrades. You can definitely file this tariff idea under the "hideously false economies" category: