WASHINGTON DC – National Foreign Trade Council (NFTC) President Jake Colvin today issued a statement following the administration’s announcement of an increase of tariffs on steel and aluminum imports:
“At a time when the Administration has been prioritizing new trade deals and stabilizing economic relations with major trading partners, this is a step in the wrong direction. Doubling tariffs on steel and aluminum imports adds even more onerous cost pressures on American manufacturers and consumers. The rapid fire announcement and implementation of these new tariff hikes also adds to the uncertainty surrounding U.S. trade policy, which is paralyzing for corporate decision making and consumer spending.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
