WASHINGTON DC – The National Foreign Trade Council (NFTC) today submitted comments to the Department of Commerce for the Section 232 National Security Investigation of Imports of Processed Critical Minerals and Derivative Products.
The comments read, in part, “The U.S. cannot compete with China simply by forcing American companies to pay more for these minerals without an alternative. Building an alternative supply chain will take years and significant investment from both the private and public sectors. Tariffs only serve to drive up prices, which results in making U.S. products less competitive globally.”
“Our position on this 232 investigation aligns with the comments we submitted last week for similar investigations into semiconductors and pharmaceuticals,” said Jeannette Chu, Vice President for National Security Policy. “In our comments, we once again reiterate our support for the Administration’s objective to bolster national security by increasing domestic manufacturing of certain products and inputs, but believe that tariffs are not the best option. Instead, we offer recommendations to strengthen U.S. national security and competitiveness by diversifying and enhancing access to these inputs.”
Read our full comments here.
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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.
