SMA backs Trump stance on tariffs

"The Steel Manufacturers Association applauds President Trump for putting the American steel industry and its workers first by imposing a 25% tariff on all steel imports," said Bell, adding that "President Trump understands that America's steel industry is the backbone of our economy. A thriving domestic steel industry is critical to US national and economic security."

Bell's comments follow on from Trump's 25% tariffs for all announcement which, like the last time Trump was in power, sent shockwaves throughout the global steel industry.

That said, Bell argues that the American steel industry is facing serious threats from foreign actors that 'seek to destroy domestic production'.

On Monday just past, imports into the USA of aluminium and steel were slapped with a flat 25% tariff 'without exceptions or exemptions'.

"China and other countries routinely violate trade laws and dump heavily subsidized steel products into the United States at the expense of American workers. By imposing a 25% tariff on steel imports, President Trump is levelling the playing field for American manufacturers and workers and helping America defeat direct threats to our jobs," Bell said, adding that expanding and strengthening the section 232 tariffs on steel imports was the most effective way to support the steel industry.

"Tariffs are a powerful tool to fight against unfair trade and state-sponsored overcapacity around the world and compel other nations to take a serious approach to fair trade," said Bell. "Today's actions are a critical component of the president's plan to restore American manufacturing and strengthen our national security."

Bell said that fighting unfair trade and comprehensive regulatory reform will fuel an economic renaissance.

He described Trump's 25% across-the-board tariffs as decisive action that sends a clear message to the world: "the United States will not tolerate unfair trade practices that harm American workers and industries."