Washington – Joshua Bolten, President & CEO of Business Roundtable, today released the following statement on the Administration’s announcement of new tariffs on steel and aluminum imports:
“Business Roundtable strongly disagrees with today’s announcement because it will hurt the U.S. economy and American companies, workers and consumers by raising prices and resulting in foreign retaliation against U.S. exporters.
“Using ‘national security’ tools to implement tariffs could embolden other countries to impose ‘national security’ tariffs on U.S. exporters or otherwise restrict U.S. goods and services sold to their markets.
“Business Roundtable shares the President’s goal of addressing global overcapacity of steel and aluminum. We urge the President to pursue other approaches that target unfair traders without putting various parts of the economy at such high risk, such as strongly enforcing U.S. unfair trade laws.”