The Equipment Dealers Association praises President Trump’s recent efforts to ease tensions with the United States’ closest trading allies, Canada and Mexico. On Friday, the United States Trade Representative announced the parties had reached an accord and that the United States would be removing Section 232 tariffs for steel and aluminum imports from Canada and Mexico. In exchange, all retaliatory tariffs imposed by Canada and Mexico would be removed from U.S. goods. “By lifting the import taxes on Canadian and Mexican steel and aluminum, President Trump is helping smooth the path for the ultimate passage of the United States Mexico Canada Agreement (USMCA). We applaud these efforts but ask the President strive to build rather than burn bridges with our other trading partners. Trade is essential to our industry and the American economy.” said Kim Rominger, President and CEO of EDA.
Unfortunately, while tensions at home are subsiding, the trade war between the United States and China continues to escalate. Talks between the United States and China broke down last week. In response, the Trump Administration announced an increase in tariffs on $200 billion worth of Chinese goods to 25 percent. “EDA supports fair trade and we are in agreement with President Trump that we must attempt to correct this problem with China which that has evolved over decades. These tariffs, however, especially in an already down agricultural market, will exacerbate the situation rather than resolve it.” continued Rominger. “There is no doubt that tariffs will negatively impact not only the equipment manufacturing industry but also the entire U.S. economy. EDA will continue to take every opportunity to remind both Congressional leadership and the White House that tariffs are counterproductive and that U.S. equipment businesses and families across the country are ultimately left paying the tab,” said Natalie Higgins, VP of Government Relations for EDA.
EDA looks forward to a robust, fair and rules-based trade of aluminum and aluminum products between the United States, Mexico and Canada under the terms of the U.S.-Mexico-Canada Agreement (USMCA). EDA Members are encouraged to contact their legislators and tell them that passage of the USMCA is critical for the health of our industry.