Equipment Manufacturers worried about increasing tariff's

The Association of Equipment Manufacturers says President Trump's plan to impose tariffs on steel and aluminum imports would harm U.S. equipment makers. The president plans a 25 percent import tariff on steel and a ten percent import tariff on aluminum. AEM President Dennis Slater says the move would raise costs for U.S. equipment manufacturers and undermine global competitiveness. Roughly 30 percent of U.S.-made equipment is intended for export, according to AEM. Slater says: "Tariffs or quotas on steel and aluminum imports will burden U.S. manufacturers with higher costs while our competitors in China, India and Mexico will get a free pass to use the cheapest input materials they can find." AEM says it is "discouraging" the Trump administration from imposing the tariffs, adding that equipment manufacturing jobs are among the 6.5 million jobs supported by downstream industries that make use of steel as an input.

 

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