New Tariffs on U.S. Imports From Mexico | ACC Statement
WASHINGTON (May 31, 2019) – The American Chemistry Council (ACC) issued the following statement in response to the announcement of potential new tariffs on U.S. imports from Mexico:
“We stand with our business and coalition partners in urging the President and Congress to find a better way to secure our borders. Around $543 million in chemical products cross the U.S.-Mexico border every week, and Mexico purchases more U.S.-made chemicals than any other trading partner – nearly $23 billion in 2018. A tax on all imports from Mexico, followed by Mexico’s likely retaliation on U.S. chemicals exports, would erect huge cost barriers between American manufacturers and the products they depend on to succeed. The uncertainty created will lead to a cascade of unwanted economic consequences and weaken U.S. manufacturing competitiveness.
“Trade agreements like the USMCA are designed to remove tariffs and prevent non-tariff barriers to trade, while strengthening U.S. manufacturing by giving businesses more access to the products they need to compete globally. ACC’s focus continues to be on supporting USMCA passage and strengthening the highly-integrated and efficient North American chemical supply chain.”
CONTINUE READING ON www.americanchemistry.com