The Coalition of American Metal Manufacturers and Users (CAMMU) issued the following statement:
The last 24 hours is more evidence of why the reliance on tariffs as a trade policy was largely abandoned in the 1930s. Hours after President Trump reimposed 10% Section 232 tariffs on aluminum imports from Canada, the Canadian government announced that it will place $2.7 billion in tariffs on U.S. aluminum exports. The North American supply chain is integrated and aluminum-using manufacturers on both sides of the border will be hurt by these tariffs.
Tariffs are taxes (see www.tariffsaretaxes.org) and the last thing that U.S. manufacturers needed was for the government to raise the cost of aluminum by placing a tax on this important input while these companies are dealing with unprecedented challenges resulting from the COVID-19 pandemic. The Trump Administration is taxing the very inputs manufacturers need to produce the medical supplies here in the U.S. that are saving American lives every day.
U.S. manufacturers have paid billions of dollars in tariffs over the past two years, money that could be used for hiring workers, capital investment and research and development, all critical elements for the manufacturing sector to recover from the recession caused by the pandemic. CAMMU continues to call on the President to terminate the Section 232 tariffs on steel and aluminum imports.