SEMA: Tariffs are Harming U.S. Business
Tariffs imposed by the U.S. government are harming American companies, workers, and consumers, according to SEMA. The association would like President Donald Trump and U.S. Congress to know that its member companies report grappling with higher-priced steel and aluminum because of global tariffs.
“The United States has helped create a global free trade system that includes mechanisms for addressing unfair trade practices,” said Christopher Kersting, SEMA president and CEO. “SEMA cautions the president and lawmakers to work with our trading partners and employ U.S. law judiciously. The current tariffs are a tax on American companies and consumers that are causing unnecessary harm.
“SEMA welcomes efforts by the U.S. government to protect American companies and their customers from unfair trading practices,” Kersting added. “We urge the president and Congress to pursue trade infringements in a fashion that does not inflict unintended economic harm.”
SEMA’s statement also raised concerns about the U.S. government considering additional tariffs of up to 25 percent on imported automobiles and auto parts.
“President Trump has directed the U.S. Department of Commerce to investigate whether imported automobiles and auto parts pose a threat to America’s national security. While the premise of the investigation has not been clearly communicated, imposing tariffs would have damaging consequences for the industry and automotive enthusiasts,” SEMA’s statement said.
“SEMA members have seen steep price hikes for steel and aluminum and are now having to make tough decisions about passing those costs along to the consumer. Marketplace confusion with respect to country exemptions and company exclusions remains unresolved.”