03/08/2018 | Press release | Distributed by Public on 03/08/2018 15:01
March 8, 2018
Arlington, Va. - Aerospace Industries Association President and CEO Eric Fanning expressed concern with President Trump's decision to impose tariffs on steel and aluminum today.
'We are disappointed that the President has decided to move forward with tariffs on steel and aluminum,' Fanning said. 'Our industry employs 2.4 million people and produced a trade surplus of $86 billion last year. Tariffs on aluminum and steel would jeopardize that surplus and put those jobs at risk.'
The aerospace and defense industry produces the best products at the best price in a highly competitive market. To remain competitive internationally in the face of increasing demand, the commercial side of our industry requires global sources of aluminum and steel. Industry analysts predict a 10% tariff on aluminum would create almost $2 billion in unnecessary costs to U.S. manufacturing.
'We're committed to President Trump's vision of a healthy and robust manufacturing and defense industrial base,' Fanning added. 'We look forward to working with the Administration and Congress to find better solutions to strengthen American industry.'