The Coalition of American Metal Manufacturers and Users (CAMMU) released the following statement regarding today’s trade-related developments between the United States and European Union:
“While the U.S. and EU made some progress during the summit in resolving long-standing trade disputes, CAMMU is disappointed that the parties did not come to an agreement on a timeline to end the Section 232 steel and aluminum tariffs. We reiterate the urgency of terminating these tariffs imposed under the previous Administration while discussions continue on how best to address China’s over supply of steel and aluminum. We also note that any working group or stakeholder involvement in the discussions must include U.S. industrial users of steel and aluminum.
“The 232 tariffs on steel and aluminum should have never been applied to our allies in the first place. They have only served to increase the costs of goods manufactured in America compared to overseas competitors who can simply import the finished product to the U.S., and thus continue to erode the ability of the U.S. manufacturing sector to compete and survive in the global market. Record high prices, shortages and delays in delivery for steel and aluminum are rippling throughout downstream industries, disrupting supply chains and threatening the economic security of American workers.
“Section 232 provides no mechanism for review of the costs and benefits of the tariffs. We urge the Biden Administration to reach a resolution with our trading partners and terminate the Section 232 tariffs as quickly as possible before more damage is done to the manufacturing sector and the economy.”
