Agreement Reached to Remove Steel, Aluminum Tariffs


On May 17, the United States, Canada and Mexico announced an agreement to remove tariffs on steel and aluminum imported from each of the countries. The move will lift the 25% steel and 10% aluminum tariffs the United States imposed nearly a year ago, which resulted in retaliatory measures from Canada and Mexico. Associated Equipment Distributors (AED) opposed the tariffs and frequently warned the Trump administration about its impact on the construction equipment industry and broader sector.

In response to the agreement, AED’s President and CEO Brian P. McGuire issued the following statement:

“AED commends the United States, Canadian and Mexican governments for reaching an accord to remove the steel and aluminum tariffs. The tariffs were disrupting the supply chain and increasing costs for equipment distributors, manufacturers and customers. Congress must now approve the United States-Mexico-Canadian Agreement (USMCA).

"The USMCA modernizes and strengthens the trade ties between the three countries, which will boost economic growth and job creation in North America while providing trade certainty for the construction equipment industry.”

Association of Equipment Manufacturers (AEM) president Dennis Slater issued the following statement supporting the Trump administration’s decision to end tariffs on steel and aluminum from Canada and Mexico:
 
“We are encouraged by the Trump administration’s decision to end tariffs on steel and aluminum from Canada and Mexico. Today’s action responds to the concerns voiced by equipment manufacturers and we strongly support it,” said Dennis Slater, president of AEM. “But there is still a lot that must be done to better support equipment manufacturers and the 1.3 million men and women of our industry. While today’s decision helps our member companies conduct business in North America, we are urging Congress to immediately ratify the USMCA agreement. By doing so, Congress will preserve duty-free access to our industry’s largest export markets, Canada and Mexico, and help our farmers sell more of their products at a time of incredible economic difficulty. 
 
Slater continued, “We also continue to urge the president to completely remove all steel and aluminum tariffs on America’s other trading partners around the world, and end all the protectionist tariffs hurting U.S. farmers, American families and our national economy. We need our elected officials to make it easier, not more difficult, for American businesses, manufacturers and farmers to be competitive in a 21st century global marketplace.”