HARMFUL TARIFFS PLACE U.S. JOBS AT RISK
Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement today in response to the White House’s announcement to move forward with planned tariffs on European, Canadian, and Mexican steel and aluminum:
“Starting a trade war with three of our nation’s largest trading partners and strongest allies will disrupt the entire global trading system, placing American manufacturing jobs at risk. These harmful tariffs will directly contribute to higher steel prices, increase costs for agriculture and construction machinery, wreak havoc on the business operations of equipment manufacturers, and jeopardize many of the 1.3 million good-paying jobs our industry supports. Moreover, tariffs and quotas will wipe out much of the positive economic benefits of last year’s tax reform.
If the United States does not grant the European Union, Canada, and Mexico a permanent exemption from steel and aluminum tariffs and quotas, we will face retaliatory actions that will result in diminished U.S. exports and market access for American made equipment and agricultural commodities. We therefore urge the Trump administration to refrain from imposing tariffs on steel and aluminum imports from the European Union, Canada, and Mexico.”
AEM released a TV ad in the March discouraging steel tariffs.
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 950 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in the United States supports 1.3 million jobs and contributes roughly $159 billion to the economy every year.