Washington, D.C. – The United States International Trade Commission (ITC) released a report Wednesday on the economic impact of Section 232 tariffs on steel and aluminum imports and Section 301 tariffs on Chinese imports.
Alliance for American Manufacturing President Scott Paul said:
“The limited-scope ITC report on tariff impacts underscores some of the benefits of the policies: Imports of the subject products, particularly from China, were down; and domestic production in steel and aluminum rose. The report acknowledged that it could not include estimates of the domestic manufacturing investments, impacts on national security, or losses from intellectual property theft to China because of the narrow mandate it had from congressional requestors. Most manufacturers today are hiring. Anyone who claims this report shows the tariffs have failed hasn’t read it in full.
“We commend the Biden administration for maintaining the Section 232 and 301 policies, as well as its other significant actions to bolster domestic manufacturing and supply chains.”
The U.S. steel industry’s improved financial condition under Section 232 has spurred $15.7 billion in new investments, upgrades, plant expansions, and idled facility reopenings across 15 states, creating at least 3,200 direct new jobs. And Section 301 tariffs provide crucial leverage in trade negotiations with China to address its long-standing disregard for international trade norms and reliance on market-distorting practices. Paul outlined the importance of sustaining Section 232 and Section 301 tariffs in his testimony before the ITC in 2022.
A recent survey Alliance for American Manufacturing poll conducted by Morning Consult shows that 76% of voters agree that the U.S. should continue to impose Section 301 tariffs on Chinese imports.