A Peoria-based Congressman is sharing his reaction to the President’s approval of new tariffs on steel and aluminum.
Yesterday afternoon, President Trump signed off on the trade penalties that will reportedly take effect on March 23rd. These new tariffs specifically target steel and aluminum, with a 25 percent increase on steel imports and a 10 percent increase on imported aluminum.
In reaction to these new tariffs, Congressman Darin LaHood of Illinois’ 18th Congressional District is sharing his thoughts on their potential impact.
In a statement released yesterday, LaHood says while he appreciates the President’s interest in fighting unfair trade, LaHood says he believes “the tariffs proposed today threaten to undo much of the growth we have recently seen in our economy by increasing costs on American consumers and laying the foundation for a trade war.” LaHood also says that he agrees with the President’s decision to provide exemptions to Canada and Mexico on these tariffs, however, he also says that “any retaliation by other trading partners would devastate agricultural districts like mine, which rely heavily on international markets to sell their products.”
LaHood goes on to say that he has pointed this out to the President in both a letter that he co-signed earlier this week as well as in a meeting last month, and that he will “continue urging the administration to focus on targeting the specific unfair practices that put American businesses and farmers at a disadvantage instead of promoting blanket tariffs.”