Since 2012, the global economy has grown by less than 3 percent, thereby weakening global demand for steel. Some nations, especially China, are producing large amounts of steel, driving down the global price. U.S. steel producers want immediate action by the U.S. government to protect the domestic industry. The government has a wide variety of tools to do so, but special-interest tariffs for the steel industry will have negative consequences elsewhere in the domestic economy.
U.S. manufacturing and construction industries rely on domestic and foreign steel to create finished products. Tariffs on steel imports limit choices and increase costs for these industries. Those costs are ultimately borne by American consumers and act as a tax on everyday goods made from steel, such as lawn mowers, washing machines, and microwaves.
Join us for a discussion on the negative impact of protectionist tariffs and the free trade solutions the government should take to keep U.S. markets open to innovation, competition, and economic opportunity for all.
More About the Speakers
Owner, Law Office of Lewis E. Leibowitz
Former Senior Director Global Government and Corporate Affairs, Caterpillar Inc.
Tori K. Whiting
Research Assistant, Center for Trade and Economics, The Heritage Foundation
Jay Van Andel Senior Policy Analyst in Trade Policy