Last Thursday the Trump administration announced it would allow Section 232 aluminum tariff exemptions for Canada, the European Union and Mexico to expire.
The decision had been opposed for months by the Motor and Equipment Manufacturers Association, and in response to last week’s news, MEMA states that while it supports the Trump administration’s agenda to assure fair and reciprocal trade and concurs that national security depends on the economic security of the country, that “suppliers’ access to these specialized products is critical to the industry and our national economy.”
“Our members could face having to pay double tariffs on some materials necessary to manufacture parts in the U.S. Industries like ours, which require long-term investments in facilities and employees, depend on regulatory and market stability. These actions have thrown all of that up in the air,” MEMA writes. “There is little doubt that the uncertainty and added costs the administration is creating will put U.S. investments and jobs at risk.”