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Steel Tariffs Just a Memory

Steel Tariffs Just a Memory

Friday, December 5, 2003
 
The President’s announcement yesterday that the steel tariffs, begun in 2002, will end has been heralded by PMA President William Gaskin as “the right decision for the 13 million workers in steel-consuming industries, the right decision for the manufacturing sector just beginning to recover and the right decision for the overall U.S. economy." Keeping the tariffs in place would have resulted in deteriorating relationships with U.S. trading partners to the tune of more than $2.2 billion in retaliatory tariffs on U.S. exports. “The President understands that 16 more months of the tariffs would have only further harmed the steel industry’s customers,” adds Gaskin. PMA chairman of the board Nels Leutwiler, CEO of metalformer Parkview Metal Products, Chicago, IL, welcomes the price stability that the striking down of the tariffs will bring, and expects steel availability to soon improve. “The termination of the tariffs will help prevent a disastrous repetition of the supply crunch we faced in 2002 when the tariffs began,” he says. Wes Smith, president of E&E Manufacturing Co., Plymouth, MI, and chairman of the PMA government relations committee, says: “I’m happy that the President realized that you can’t protect one sector of American manufacturing at the expense of another.”

 

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