Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement following statement after President Trump said he intends to impose tariffs on steel imports next week.
President Trump shouldn’t undercut his own goal of helping U.S. manufacturers “win” again by imposing counterproductive tariffs on steel imports. The president should reconsider his stated intention to impose tariffs on steel and aluminum imports that will raise costs for equipment manufacturers in the United States and undermine our industry’s global competitiveness.
About 30 percent of equipment manufactured in the United States is eventually intended for export. Tariffs or quotas on steel and aluminum imports will burden U.S. manufacturers with higher costs while our competitors in China, India and Mexico will get a free pass to use the cheapest input materials they can find.
If President Trump wants to boost domestic steel production, the best way would be to invest in our infrastructure system, and focus on further streamlining regulations.