Trump signs orders removing tariff exemptions for Canada, Mexico, EU
June 1, 2018
US President Donald Trump signed proclamations removing exemptions from steel and aluminum tariffs for Canada, Mexico, and the European Union as of June 1. The presidents of the American Petroleum Institute and Interstate Natural Gas Association of America separately criticized the president’s May 31 action.
Other oil and gas association leaders joined API and INGAA’s top officials in warning that imposing tariffs could drive costs of pipeline steel dramatically higher when Trump first announced his intention to order one of 25% for steel imports and a second of 10% for aluminum imports (OGJ Online, Mar. 2, 2018).
Trump said when he formally announced the tariffs on Mar. 8 that he welcomed any country with which the US shares a security relationship to discuss alternative means to address threatened impairment to US national security caused by their steel and aluminum exports to the US, the White House said in a May 31 statement.
“The United States was unable to reach satisfactory arrangements, however, with Canada, Mexico, or the [EU], after repeatedly delaying tariffs to allow more time for discussions,” it said.
“We are deeply discouraged by the administration’s actions to impose tariffs on our three closest trading partners—Canada, Mexico, and the EU—and view this as a step in the wrong direction,” API Pres. Jack N. Gerard responded.
“The implementation of new tariffs will disrupt the US oil and natural gas industry’s complex supply chain, compromising ongoing and future US energy projects, which could weaken our national security...
Read entire article at Oil & Gas Journal.
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