This afternoon, President Trump signed an order levying new tariffs on steel and aluminum imports into the United States of 25 percent and 10 percent, respectively. Heritage Foundation President Kay Coles James issued the following statement after the President's announcement:
“Tariffs are a tax increase on American workers and their families. The president’s decision today to impose tariffs on steel and aluminum imports is disappointing, economically regressive and counterproductive. Further, arguments that tariffs are necessary for national security reasons are not compelling. Tariffs do not protect the ‘forgotten men and women’ of this country or bring back jobs. Rather, they could cost current and future American jobs and increase costs on consumer goods. The Heritage Foundation stands for an America where freedom, opportunity, prosperity, and civil society flourish.
“President Trump has done so much. We need him to do the right thing now: scrap the tariffs and return his focus to policies that will grow and invigorate the economy to the benefit of all Americans.”