Washington ~ The Coalition for a Prosperous America (CPA) strongly supports President Trump’s decision to ensure that America’s ability to produce steel and aluminum are sufficient for our national security. Previous U.S. government measures taken by previous presidents since Ronald Reagan were too narrow to prevent industry decline which endangers American interests.
“President Trump, Secretary Ross, Ambassador Lighthizer and Advisor Peter Navarro stood strong in the face of incredible opposition from within and outside our country to do the right thing,” said Dan DiMicco, Chairman of CPA. “Narrowly tailored remedies and multilateral negotiations have been tried but failed to stop the problem of global predatory trade practices.”
“Other major steel producing countries have protected their interests by refusing to allow global overproduction to decimate their industries,” continued DiMicco. “The Chinese declared their government-supported steel production sector to be a strategic industry more than fifteen years ago. President Trump’s action says the United States will protect its national interests just as other countries do.”
The President’s declaration, released today, stated: “I have decided to adjust the imports of steel articles by imposing a 25 percent ad valorem tariff on steel articles, as defined below, imported from all countries except Canada and Mexico.” Allies were provided with the opportunity to negotiate exemptions. “Any country with which we have a security relationship is welcome to discuss with the United States alternative ways to address the threatened impairment of the national security caused by imports from that country.”
“The President is rightly moving our country away from a naive free trade stance in a world governed by strategic trade,” said Michael Stumo, CEO of CPA. “Defenders of the failed status quo have been intense in their opposition, raising speculative fears that run counter to the experience of America’s past trade sanctions and the experience of other countries’ protecting their industries.”
“Our labor, manufacturing and agricultural members urge the President to go further to protect America’s economic security,” continued Stumo. “Our non-energy goods trade deficit hit new highs in 2017. Many industries that America invented and grew are dwindling or are no longer here. Farmers and ranchers are facing similar headwinds as they lose domestic and global market share. We urge the President to proceed much further to achieve a reasonable balance of trade, an equilibrium exchange rate for the US dollar and an improved composition of American production and jobs in our economy. Our membership will defend the President’s actions as he does so.”