ELGIN, IL — The Fabricators & Manufacturers Association, International (FMA) has issued a statement expressing disappointment in the announcement that the Trump Administration plans to levy a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum. Representing 1.4 million workers in the US fabricated metal product manufacturing industry, the FMA expressed concern that the tariffs would unduly harm US metal fabricators and other businesses.
“One likely result of this action is to add headwinds to the market for American-made fabricated metal product producers. Just when this market had some sustained momentum, the specter of retaliatory duties and tariffs now hangs over this important manufacturing sector,” says Ed Youdell, FMA president and CEO. “The association is concerned that jobs and job creation are at risk; those countries affected by this announcement will likely choose to circumvent the tariffs by producing and exporting low-cost fabricated metal parts rather than exporting steel and aluminum.”
FMA’s economic analyst, Chris Kuehl says, “Frankly, most analysts and observers never thought it would come to this. There were so many reasons that imposing tariffs on imported steel was a bad idea. It instantly makes everything made of steel more expensive in the US — cars, buildings, equipment, etc. It instantly pits the US against its major allies as we get the vast majority of our steel from countries like Canada, Japan, South Korea, Mexico, and other friendly states. It also guarantees a trade war as these nations are prepared to retaliate immediately. Additionally, I don’t believe it’s an overstatement to assert that US allies are extremely angry at the Trump plan to impose tariffs on steel and aluminum and many have wasted little time in terms of reaction. The US will likely be hit immediately with tariffs and restrictions from Europe, Japan, Canada, and dozens of other nations. The initial estimate is for these new barriers to cost the US as much as 5 percent of its export volume — a serious blow considering that exports are 15 percent of the US GDP.”
The Fabricators & Manufacturers Association, International (FMA) is a professional organization with more than 2,500 individual and company members whose mission is to advocate for the growth and sustainability of the North American metal processing, forming, and fabricating industries.