Trump Officially Approves Steel And Aluminum Tariffs, Delivering A Body Blow To U S Construction Ind

Delivering a major punch in the gut to American construction businesses and construction equipment manufacturers, on March 8 President Trump imposed 25% tariffs on imported steel, and 10% on imported aluminum, from all nations other than Canada and Mexico, while holding the threat of including those neighbors in the tariffs should NAFTA renegotiations fail. Responding to the presidential action, Associated General Contractors of America CEO Stephen Sandherr said “These new tariffs will cause significant harm to the nation’s construction industry, put tens of thousands of high paying construction jobs at risk, and undermine the President’s proposed infrastructure initiative and potentially dampen demand for new construction projects for years to come.”

Association of Equipment Manufacturers President Dennis Slater echoed the sentiment. “These Trump tariffs will put U S equipment manufacturers at a competitive disadvantage, risk undoing the strides our economy has made due to tax reform, and ultimately pose a threat to American workers’ jobs.” Many House and Senate Republicans also strongly oppose the imposition of Trump’s tariffs. House Speaker Paul Ryan said “I disagree with this action and fear its unintended consequences. We will continue to urge the administration to narrow this policy so that it is focused only on those countries that violate trade law.”