President Donald Trump announced broad steel tariffs on Thursday. The decision comes in response to the Section 232 national security investigation he initiated last spring and finalizes the trade enforcement he first announced on March 1.
The need to respond to steel imports was clear, according to Commerce Department’s findings that noted the closing of at least 10 blast furnaces since 2000 amid persistently high level of imports. The U.S. is the world’s leading steel importer, and employment in steel has cut by a third since 2000. Only one remaining U.S. company makes essential electrical steel, and only one other supplies the type of steel needed to make Virginia-class submarines.
Said Alliance for American Manufacturing (AAM) President Scott Paul:
"We hope the era of American trade surrender is coming to an end. I thank President Trump for starting that process.
"Steel and aluminum workers are already being hired back, and as the result of stronger industries we believe these will be the first of many new jobs created in America’s manufacturing communities.
"Any exclusions to the tariffs must be narrowly crafted, strategic in nature, and shouldn’t fill the D.C. lobbying swamp. The goals of this trade action must be to secure America, increase our steel jobs, slash global steel overcapacity, and stop unfair trade practices that harm workers.
"We expect these tariffs to lay the groundwork for a stronger economy and industrial base. And we are confident that steel consumers, most of whom are agile, profitable, and flush with cash from the recent tax cut, can navigate this new landscape if importers choose to raise prices.
"It can’t end here, though. We must also invest in infrastructure with American steel, ensure American pipe is better utilized in our domestic energy renaissance, and renegotiate trade agreements fairly."
To learn how steel tariffs will create American jobs or to hear more from workers, visit AmericanManufacturing.org or follow along on Twitter at @KeepitMadeinUSA.