(MENAFN) A plan recommended by the Trump administration to restrict steel and aluminum imports has received broad opposition from domestic stakeholders and the international community.
US Commerce Department has revealed on Friday its recommendations for President Trump to restrict imports of steel and aluminum products, including an extensive tariff for all countries, quotas, or high tariffs targeted at specific countries, including China.
However, the National Tooling and Machining Association and Precision Metalforming Association issued a joint statement saying: "The recommendations by the Commerce Department to impose steep tariffs on steel would devastate downstream U.S. steel consuming manufacturers who employ 6.5 million Americans, compared to the 80,000 employed by the domestic steel industry."
Moreover, in a meeting with Trump this week, many US lawmakers also expressed concerns over trade restrictions of steel and aluminum imports, saying it would drive up consumer costs and invite retaliation from other countries.
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