Energy companies warn about effect of steel tariff on US industry

[DonViejo]

Source: The Hill



BY MIRANDA GREEN - 03/01/18 04:22 PM EST

America's oil and gas industry is raising concerns over President Trump's announcement Thursday that the U.S. will place tariffs on steel and aluminum imports, warning such a move will create unnecessary burdens on industries that utilize pipelines.

The American Petroleum Institute (API), a national trade association that represents refineries as well as pipeline producers, called the tariffs "inconsistent with the Administration’s efforts to bolster the U.S. economy."

"Today’s announcement by the Department of Commerce to recommend sweeping tariffs around all steel and aluminum imports, in the guise of national security concerns, doesn’t make sense for the U.S. economy,” said API President Jack Gerard.

“These tariffs would undoubtedly raise costs for U.S. businesses that rely heavily on steel and aluminum for the majority of their products – and ultimately consumers.”

Read more: http://thehill.com/policy/energy-environment/376325-energy-companies-warn-about-steel-tariffs-effect-on-us-industry

[Bernardo de La Paz]

1. Obama oversaw 2nd longest expansion in US history. Now, Trump Slump. . . . nt

[House of Roberts]

2. Why is Canadian metal competitive and US metal not?

What is so different about their products?

[Demsrule86]

3. They supported their industry and did not allow dumping.

[bigtime]

4. Healthcare maybe

The products are manufactured to the same standards. But US manufacturers bear the cost of employer-based health insurance. That is a huge expense inflating their overhead. Canada has national healthcare which relieves their manufacturers from this burden.

[House of Roberts]

5. You just might be barking up a tree with a possum in it.

That, and US oligarchs are spoiled unless they make more money than they can scam on Wall Street.