Taxes, Tariffs & Trade
It’s been more than one year since the U.S. imposed 25 percent tariffs on imported steel and 10 percent tariffs on imported aluminum. “The tariffs continue to hurt steel-using manufacturers and consumers across the U.S.,” according to a recent statement by the Coalition of American Metal Manufacturers and Users (CAMMU), of which NAFEM is a member. “More and more manufacturers are reporting lost business to overseas competitors because of high steel prices in the U.S. and experiencing long delivery times for steel from the U.S. suppliers because the domestic steel industry cannot meet demand.”
The USMCA Coalition, led by the National Association of Manufacturers (NAM), U.S. Chamber of Commerce and the Business Roundtable, is advocating for congressional approval of the United States – Mexico – Canada Agreement (USMCA). It’s important that businesses communicate their support for the USMCA. To do so, click here to learn more about the Coalition and click here to join, if you haven’t done so already.
In early April conversations between the U.S. and China, the latter indicated that “new progress’ had been made and President Trump expected that a deal could be announced in early May.