Country Exemptions for Section 232 Tariffs Shouldn't End, Warns US Chamber of Commerce
The U.S. Chamber of Commerce remains concerned for the ramifications of ending country exemptions to the Section 232 tariffs on steel and aluminum, the trade group said in a news release. "The U.S. must not expand tariffs or quotas on…
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steel and aluminum imports to additional countries on June 1, as has been threatened," it said. Already, steel costs have increased, as has the volatility in aluminum prices, the Chamber said. "Extending the reach of these tariffs and quotas to additional countries is certain to provoke widespread retaliation from abroad and would put at risk the economic momentum achieved through the administration’s tax and regulatory reforms. We urge the administration to take this risk seriously.” The country exemptions for Canada, Mexico and the European Union are set to end on June 1 (see 1805040046).