EDA Praises President Trump’s Efforts to Procure Bi-Lateral Trade Deal with Japan

The Equipment Dealers Association praises President Trump’s recent efforts to ease tensions with one of the United States’ closest trading allies, Japan. On Sunday, President Trump confirmed that the United States had reached an agreement in principle for a deal with Japan which would greatly enhance agricultural and industrial trade between the two countries. “By enhancing our trade with Japan, President Trump is helping smooth the path for new markets which were lost when the United States pulled out of the Trans-Pacific Partnership (TPP). We applaud these efforts but ask that 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. Details of the agreement are expected to be released in the coming months.

Unfortunately, the trade war between the United States and China continues to escalate. The Trump administration recently announced additional tariffs on $550 billion in Chinese goods. “The equipment industry supports the President’s objective in having robust production in the United States. For our industry, however, certain parts and products must be imported due to sourcing or other issues. We believe that President Trumps’ escalation of tariffs on Chinese goods will negatively impact our industry’s ability to continue create American jobs. Manufacturers are facing increased costs because of these types of tariffs and farmers will have limited markets to sell their goods. EDA is, of course, opposed to unfairly subsidized overcapacity in China. Tariffs, however, will exacerbate the situation rather than resolve it.” continued Rominger.

It is EDA’s position that the continuation and increase of tariffs on Chinese goods 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 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.