CEO DATELINE - Trump tariff decision lauded, blasted by associations
CEO DATELINE - Trump tariff decision lauded, blasted by associations
- March 2, 2018 |
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Walt Williams
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President Donald Trump's announcement Thursday of new tariffs on steel and aluminum imports was praised and panned by several associations, depending on the industries they represent.
The administration is proposing a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports in order to boost domestic manufacturing, CNN reported. The president reportedly is seeking to target Chinese imports, but the tariffs could hit hardest on key trading part partners such as the European Union and Canada.
The U.S. steel and aluminum industries have long lobbied for tariffs to protect their members from what they say is unfair foreign competition. The American Iron and Steel Institute issued a short statement on Twitter Thursday thanking the president, but largely left praise to its member companies.
"Thank you @POTUS @realDonaldTrump for fighting on behalf of our steelworkers and their families! Our steelworkers are some of the best in the world and can compete with anyone on a fair playing field. #AmericaSteelStrong," AISI tweeted.
The Aluminum Association also issued a short statement: "We appreciate the president's commitment to strengthening the U.S. aluminum industry. We look forward to working with the president on implementation and to creating a more level playing field."
Other associations were far less complimentary. The National Retail Federation called the tariffs a "tax on American families."
"When costs of raw materials like steel and aluminum are artificially driven up, all Americans ultimately foot the bill in the form of higher prices for everything from canned goods to electronics and automobiles," NRF CEO Matt Shay said.
Business Roundtable CEO Joshua Bolten said his group "strongly disagrees" with the president's decision.
"Using ‘national security' tools to implement tariffs could embolden other countries to impose ‘national security' tariffs on U.S. exporters or otherwise restrict U.S. goods and services sold to their markets," Bolten said.
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