The Club for Growth on Thursday slammed the Trump administration’s decision to slap tariffs on steel and aluminum imports from Europe, Mexico, and Canada, saying they will “reverse the positive impact” of the Republican tax cuts.
“Tariffs, on our nation’s closest allies no less, will reverse the positive impact of President [Donald] Trump’s historic tax cuts,” said Club for Growth President David McIntosh.
“Furthermore, history tells us tariffs will harm our nation’s economic growth and will trigger a trade war that will wreak the greatest harm on hardworking Americans.”
Commerce Secretary Wilbur Ross said the tariffs, 25 percent on imported steel and 10 percent on aluminum, would take effect Friday.
In imposing them, the administration is following through on a pledge in March by President Trump to do so after having earlier granted exemptions to various nations to try to buy time for negotiations.
Trump said the tariffs were necessary to protect the U.S. from unfair competition and thereby bolster national security.
The White House has argued foreign production of steel and aluminum has driven down prices and hurt American producers, creating what the Commerce Department has called a national security threat.
The administration’s move threatens to inflate prices for U.S. consumers and companies and heighten uncertainty for businesses and investors across the globe.
“Club for Growth encourages the Trump administration to go back to the drawing board and halt the imposition of these damaging tariffs,” McIntosh said.
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