On Thursday, the Trump Administration imposed tariffs on steel and aluminum imported from Canada, Mexico and the European Union. The U.S. Tire Manufacturers Association (USTMA) wasted no time responding.
"We are deeply disappointed by the Trump Administration’s decision today (May 31, 2018)," said CEO and President Anne Forristall Luke. "Already we are seeing swift retaliation and proposed countermeasures from our closest trading partners, which is harmful to America’s manufacturers, the U.S. economy and our global relationships.
"In addition, our members have been clear about the impact of such tariffs on the growing U.S. tire manufacturing industry. These tariffs could undercut future domestic growth, limit the availability of high-quality steel and impact American tire manufacturing jobs.”
USTMA estimates the U.S. tire industry is worth $27 billion, and is responsible for more than a quarter million domestic jobs.
"Our companies operate 57 tire-related manufacturing facilities in 18 states," she said. "We have enjoyed years of sustained growth, expanding our footprint across the U.S. It’s vital we maintain this domestic growth and economic impact, and yet this action today has the real potential of decelerating these positive trends.
“Finally, imported high-quality steel is critical for tire production. U.S. tire manufacturers depend on grades of steel which are unavailable domestically to produce tires. This is why effective trade policies with countries like Canada and the EU are vital to our business operations.”