ACC Applauds Removal of Section 232 Tariffs on Steel and Aluminum Imports from Canada and Mexico
The American Chemistry Council (ACC) issued the following statement in response to an agreement by the United States, Canada, and Mexico to remove all
tariffs and retaliatory countermeasures resulting from the Section 232 investigation:
“ACC applauds the U.S. Administration for removing the tariffs on Steel and aluminium imports from Mexico and Canada without imposing harmful quotas. We also welcome Canada’s announcement today that it will lift its country’s retaliatory countermeasures against the United States, including tariffs on $2.5 billion in U.S.-made chemical exports. The chemical industry can now get back to the business of building multimillion and multibillion dollar chemical manufacturing facilities across the United States, creating jobs, and growing our exports to the rest of the world.
“Chemical manufacturing facilities are a critical part of our business, transforming millions of dollars of research and development into real-world chemistry innovations. But building them is a heavy task – some require up to 18,500 short tons of steel and 1,150 short tons of aluminum. Tariffs on imports of these products can potentially add billions of dollars to our construction costs, spooking investors and putting more than half of the
$204 billion in announced chemical industry investment projects at risk.
“ACC and its members urge all three parties to build on this important and commercially meaningful step by ratifying the
United States-Mexico-Canada Agreement (USMCA) as soon as possible.”
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