Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa today issued the following remarks on reports that the administration is considering re-imposing tariffs on aluminum imports from Canada:
“This attempt to re-impose aluminum tariffs on our Canadian neighbors would be a major mistake. It would completely undermine the spirit of our newly-negotiated USMCA and would reignite trade tensions with our biggest trading partner. It will also hurt the most dynamic U.S. manufacturers in sectors like autos, food products and construction, all in a vain effort to prop up inefficient domestic aluminum producers by branding Canada a national security threat.
“American consumers will pay the price, but so will our exporters, who will undoubtedly face Canadian retaliation. It would indeed be sad if the administration fails to recognize why such an action a few days before entry into force of USMCA would undermine our credibility as a reliable trading partner, not just with Canada, but with other potential free trade partners like the U.K. and Japan.”
NFTC and the Alliance for Competitive Steel and Aluminum Trade (ACSAT) have opposed the imposition of tariffs on steel and aluminum since they were first announced in 2018. After considerable push back from a broad cross section of the U.S. business community, the administration suspended these tariffs for Mexico and Canada as part of USMCA negotiations in May 2019. Re-imposing these tariffs on Canada would be a serious step back in our commitment to an integrated North American supply chain.
About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.
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