WASHINGTON, D.C. — U.S. Chamber of Commerce Executive Vice President and Head of International Affairs Myron Brilliant issued the following statement today regarding the upcoming June 1 deadline for exemptions from proposed steel and aluminum tariffs:
“Months ago, the U.S. Chamber warned that alienating our strongest global allies by launching a tit-for-tat trade war would harm the U.S. economy and undermine American leadership. This is even clearer today: The U.S. must not expand tariffs or quotas on steel and aluminum imports to additional countries on June 1, as has been threatened.
“Such a move would hit American manufacturers with higher costs, slow the growth of the U.S. construction sector, and put the brakes on job creation in both of these key industries. U.S. steel prices are already nearly 50 percent higher than those in Europe or China, and aluminum prices have been extremely volatile; this move would add substantially to these challenges.
“Extending the reach of these tariffs and quotas to additional countries is certain to provoke widespread retaliation from abroad and would put at risk the economic momentum achieved through the administration’s tax and regulatory reforms. We urge the administration to take this risk seriously.”
The U.S. Chamber's previous statement on steel and aluminum tariffs is available here.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 80 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.