Tariffs ensure aluminum and steel jobs are here to stay
April 5, 2018
"China’s announcement Wednesday that it plans to slap tariffs on $50 billion worth of U.S. products is a clear threat to President Trump after his announcement last month to impose tariffs on imports of aluminum and steel from other nations and his announcement Tuesday that he plans to impose tariffs on $50 billion in imports from China.
"Already, many policymakers, Wall Street analysts and pundits have quickly jumped to doomsday scenarios over trade wars. And dozens of countries are also lobbying the president for exemptions from the steel and aluminum tariffs.
"While I have major policy differences with President Trump and his administration, it is essential that he stay the course and not cower to China’s bullying. Our political leaders should not take this tremendous victory away from tens of thousands of America’s aluminum and steelworkers by reversing or watering down the president’s decision.
"According to Bloomberg News and independent analysis, the steel and aluminum tariffs have the potential to add 19,000 new jobs to the U.S. economy. Furthermore, the Economic Policy Institute – a well-respected think tank in Washington – also concluded that the estimates of jobs lost and harm espoused by some due to the steel and aluminum tariffs are “wildly exaggerated.”
"Studies like these highlight the contributions that the aluminum and steel industries make to the United States manufacturing economy and the valuable role that primary aluminum smelters and steel mills have in towns and cities across the United States.
"Democrats and Republicans should recognize that we all benefit from robust and vibrant domestic steel and aluminum production up and down the value chain. Until the rest of the world, including our allies, is ready to address excess capacity and the problems it has caused, tariffs are our only route to return production to sustainable levels for the steel and aluminum industries.
"Aluminum and steel are critical components in so many elements of our daily lives. As China amplifies its threats and the battle rages on Capitol Hill and the media to scare the public about the alleged negative effects of the tariffs, it is important to remember the benefit tariffs provide to tens of thousands of hardworking Americans.
"Our policymakers have long talked about supporting the middle class and American industries that are the backbone of this great nation. The steel and aluminum tariffs imposed by President Trump ensure the long-term prosperity of both."
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Foreign Relations Trade