Kansas Senator Pat Roberts says that President Trump’s 25 percent tariff on steel and a 10 percent tariff on aluminum are not good news.
“This proposal is not a tariff on steel and aluminum imports; it is a tax on consumers,” said Roberts. “As we have seen in past cases of increased tariffs, higher manufacturing costs will inevitably be passed down the supply chain, forcing consumers to bear these costs. While I agree action should be taken to address overcapacity of steel and aluminum, using Section 232 as a tool to impose global tariffs on imports of steel and aluminum would have detrimental consequences to the U.S. economy. The proposed tariffs would nullify the positive gains created by the recent tax reform package passed by Congress.”
Roberts, who is also Chairman of the Senate Committee on Agriculture, Nutrition, and Forestry, expressed concern last week over the president’s initial comments on these tariffs and the damaging effects they could have on agriculture saying, “Like we have seen in the past, American agriculture often pays the price. We need a trade policy that is stable and beneficial to all industries.”