Economic policy

Groundbreaking Economic Policy Institute study finds Section 232 aluminum tariffs created thousands of new jobs in the United States

WASHINGTON, May 26, 2021 /PRNewswire/ — Today in a virtual webinar, the Economic Policy Institute unveiled a groundbreaking study which shows the overwhelming positive economic impact of Section 232 tariffs on aluminum. Tom Conwayinternational president of the United Steelworkers (USW) union, jesse garyPresident of the APAA and James PowellFoundry Manager of Century’s Hawesville Foundry, were joined by Robert E. ScottSenior Economist and Director of Trade and Manufacturing Policy Research at the Institute for Economic Policy and Adam S. HershEPI’s guest economist, to unveil this research, which shows that aluminum tariffs are creating thousands of new jobs in the United States while helping America rebuild.

This new report finds that measures imposed in 2018 under Section 232 of the Trade Expansion Act of 1962 allowed aluminum production and employment in the United States to rebound, saving a vital American industry. Moreover, these measures have had a negligible impact on consumers of aluminum products while jobs and investment in aluminum have increased dramatically.

“Chronic global aluminum overcapacity jeopardizes the ability of U.S. industry to maintain operations, grow, and invest in areas critical to national security and broader economic well-being,” said Robert E. Scott, EPI’s Senior Economist and Director of Trade and Manufacturing Policy Research, and co-author of the report. “Continuation of the Section 232 aluminum import measures remains essential to stabilizing and expanding aluminum production in the United States.”

“The Section 232 program enables the U.S. primary aluminum industry to regain its strength in the face of global overproduction while creating thousands of direct and indirect, well-paying aluminum jobs,” says jesse gary, president of the American Primary Aluminum Association. “This study highlights the incredible impact the Section 232 Tariff Program has had on our industry which is critical to our country’s national defense and the future of our nation. If we are to build back better, support American workers and protect this essential industry, we must keep the Section 232 program in place.”

“USW members have experienced first-hand the devastation of global overcapacity inflicted on their communities, as national aluminum industry facilities succumbed to unfair trade,” said the International President. from the USW. Tom Conway. “As the PPE report clearly shows, the Section 232 measures have provided much-needed relief. As we seek to preserve our fragile economic recovery, it is essential that we maintain tariffs so that domestic producers can continue to invest in expanding their facilities and creating jobs.”

“Domestic aluminum production is essential for national defense and essential to the economy in general,” said Adam S. Hersh, EPI’s guest economist and co-author of the report. “The Biden-Harris administration should continue and strengthen aluminum import restrictions until it can achieve a permanent, multilateral solution to the chronic problem of global excess aluminum production capacity.”

About the American Primary Aluminum Association:

The American Primary Aluminum Association represents the interests of the American primary aluminum industry and its workers through the Aluminum Now campaign. APAA is registered and incorporated in washington d.c. and operates as a non-profit trade association. To learn more, please visit: www.aluminumnow.org

SOURCE American Primary Aluminum Association

Related links

http://www.aluminumnow.org