Part 4/7:
For instance, when steel imports are restricted, it benefits workers in the steel sector. However, this decision simultaneously reduces foreign income, limiting the ability of international buyers to purchase goods from the U.S. This, in turn, creates job losses in other sectors that rely on foreign markets, such as agriculture in states like Kansas. The jobs that could have existed due to exports diminish as trade barriers tighten, thus revealing the deceptive simplicity of labeling tariffs as solely beneficial.