Group Opposes New Tariffs, Warns of ‘Global Trade War’
Cost of Tariffs Will Wipe Out Tax Relief, AEM Says
Dennis Slater, president of the Association of Equipment Manufacturers (AEM) in a statement opposed the escalating global trade war following the Trump administration’s decision to propose a new round of $200 billion in tariffs on Chinese goods.
“Nobody wins in a global trade war,” Slater says. “American workers, farmers, consumers and the U.S. economy lose. Not only will these tariffs threaten many of the 1.3 million jobs our industry supports, they also hurt farmers who are already reeling from low commodity prices. On top of this, these tariffs are eliminating many of the economic gains created by last year’s tax reform. Tariffs are taxes on consumers and businesses. We need policies that encourage manufacturing in the United States. Not the opposite.”