In 2018, when the Trump administration imposed a 25 percent tariff on imports of steel to the United States, economists at the Federal Reserve Bank of New York wrote, "We can conclude that the 25 percent steel tariff is likely to cost more jobs than it saves." Source: Mary Amiti, Sebastian Heise, and Noah Kwickli, "Will New Steel Tariffs Protect U.S. Jobs?" https://libertystreeteconomics.newyorkfed.org/2018/04/will-new-steel-tariffs-protect-us-jobs.html, April 19, 2018. Part 2 Why might a tariff on steel imports cost more jobs than it saves? A. A tariff will lower the price of steel, lowering the profits of firms, and lower profits will result in less steel produced, decreasing the number of jobs in the steel industry. B. A tariff will raise the price of steel, increasing the costs to firms, and higher costs will result in higher prices, leading to lower sales and potentially lost jobs. C. A tariff on steel imports will most likely cost more jobs than it saves if the tariff is the result of congressional logrolling. D. The only way a tariff will cost more jobs than it saves is if a country reacts to the tariff by imposing even larger tariffs on other U.S. products