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Data & Reports Illinois Midwest News Public Policy Uncategorized Updates US

Companies seek exclusions from steel, aluminum tariffs

TMA Media June 11, 2018
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SCHAUMBURG – Last week, TMA News reported on the views about the Trump Administration’s tariffs that Michael Stumo, executive director of Coalition for a Prosperous America shared at TMA’s Schaumburg headquarters.

This week, Industry Week is reporting the different ways US companies are encouraging employees to appeal for tariff exclusions …

‘Pretty Painful’
“It’s already pretty painful to begin with, and if we don’t get the exclusion, it’s going to be worse for us,” said Ty Taylor, president of South Carolina-based Greenfield Industries Inc., who said that the tariffs are cutting into the company’s profits. Greenfield has asked employees and sales people to write letters seeking support for more than 1,100 exclusion requests.

“We almost feel like the government’s telling us we need to stop manufacturing here and move our manufacturing offshore,” Taylor said.

Companies are asking for exclusions from the 25% tariffs on steel imports and 10% on aluminum that Trump imposed in March and expanded on June 1 by removing temporary country exemptions for the European Union, Canada and Mexico. Requests can be approved if the needed raw material isn’t produced in the U.S. in a sufficient amount or quality, or for a specific national security reason.

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