The American Iron and Steel Institute (AISI) and the Steel Manufacturers Association (SMA) have made positive statements regarding the America First trade policy announced by newly inaugurated US President Donald Trump.
Kevin Dempsey, president and CEO of AISI, has applauded the president’s actions and his policy, which he said will be used as an instrument to maintain national security and to eliminate several challenges experienced by the domestic steel industry. He pointed out that the policy will tackle unfair trade practices and currency manipulation, ensure full implementation of the US’ existing trade agreements, and level the playing field by strengthening US laws on antidumping and countervailing duties. The AISI official said that, apart from China, other countries also pose a threat to the domestic industry and that the government should also eliminate these threats.
Furthermore, Mr. Dempsey welcomed the president’s order to review and assess the effectiveness of the Section 232 tariffs that were introduced back in 2018 by Trump himself. However, he called on the government to take immediate action to ensure that it is actually achieving its original targets.
In the meantime, SMA has shared its appreciation of Trump’s policy, stating that President Trump is opposing unfair trade practices and that it will work closely with the new administration to grow the domestic steel industry and to protect national security.
Additionally, according to media reports, the Trump administration is considering imposing 25 percent tariffs on Mexico and Canada and 10 percent tariffs on China from February 1, despite his promise during the campaign period to impose tariffs from his first day in office, as SteelOrbis reported previously. Such new tariffs would likely increase costs for US consumers.