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June 1, 2018

MSCI Statement On White House Plan To Impose Tariffs On Steel, Aluminum From Canada, Mexico

Contact: Ann D’Orazio, Vice President Advocacy and Media Relations, 847-485-3019

 

MSCI Statement On White House Plan To Impose Tariffs On Steel, Aluminum From Canada, Mexico

Rolling Meadows, Ill., June 1, 2018—M. Robert Weidner, III, president and CEO of the Metals Service Center Institute (MSCI), issued the following statement regarding President Donald Trump’s decision to impose tariffs on steel and aluminum products from Canada and Mexico:

“As a North American trade association representing metals companies, MSCI believes U.S., Canadian, and Mexican officials should continue discussions with a sense of urgency to update NAFTA and strengthen our ties to our NAFTA trading partners. The focus of the Section 232 penalties should be non-market economies like China that subsidize their steel and aluminum producers and that routinely circumvent international law. From the start of the administration’s Section 232 investigations, MSCI has argued these penalties should be targeted toward non-market systems.”

“As MSCI explained in its NAFTA testimony last year, NAFTA has positively impacted the manufacturing sectors in all three nations, fostering a $1 trillion annual trading relationship that is beneficial to both businesses and consumers. The U.S.’s allies in Canada and Mexico are good, reliable trading partners, and are not the cause of global steel and aluminum oversupply. We hope through ongoing NAFTA modernization talks, negotiators can strengthen this relationship and reach a speedy resolution on the Section 232 penalties.”

In steel 232 comments submitted to the U.S. Commerce Department on May 31, 2017 and in aluminum 232 comments submitted on June 23, 2017 (both available here), MSCI asked the Trump administration to take strong action to help the entire U.S. steel and aluminum supply chains while exempting the United States’ North American trading partners from any proposed Section 232 penalties. MSCI’s NAFTA comments to the Office of the U.S. Trade Representative, which highlight the benefits of the U.S.’s trading relationship with Canada and Mexico, are available here.

About MSCI

Founded in 1909, the Metals Service Center Institute is a nonprofit association based in Rolling Meadows, Ill., serving the industrial metals supply chain. It serves more than 300 members in over 1,200 locations in North America. For more information, visit www.MSCI.org, MSCI’s online resource MSCI.org/Edge, like us on Facebook, follow us on Twitter, and connect with us on LinkedIn.