Hours before President Trump is expected to unveil details about his proposed tariff on steel and aluminum imports, Ohio's U.S. Senators are expressing their reservations.
Speaking with reporters Tuesday, Republican Sen. Rob Portman said the President should narrow the scope of his proposal, which the President has said will involve a 25 percent tariff on all imported steel and a 10 percent tariff on imported aluminum. Portman argued for a more 鈥渟urgical鈥� approach, which would rely on tougher enforcement of existing trade laws.
Although an across-the-board tariff would be good for producers of raw steel, Portman said, 鈥渋t could have a negative impact on our economy, on Ohio workers, because we have a lot of steel processors, a lot of companies that do things with steel.鈥�
Many economists agree, arguing that a broad tariff could have severe consequences for many U.S. companies such as automakers.
鈥淔rankly, I just don't buy into that,鈥� said Sen. Sherrod Brown on Wednesday.
Like Portman, Brown said he would prefer the President take a more 鈥渢argeted鈥� approach by focusing on China which, according to the U.S. Commerce Department, is responsible for driving down the price of steel by subsidizing its own steel producers and selling the metal below cost.
Still, Brown predicted that a broad tariff would do more to help the auto industry than harm it.
鈥淚 would鈥檝e chosen [a policy] that focuses more on China and less on our allies,鈥� Brown said. However, 鈥渋f we don't enforce now and draw a line now, we鈥檙e going to see the Chinese in auto component manufacturing ... working its way up to auto assembly.鈥�
Trump hasn鈥檛 yet said whether his plan would exempt countries like Canada, which is the United State's main source of imported steel. But on Wednesday afternoon, White House press secretary Sarah Huckabee Sanders indicated that the tariff may include 鈥減otential carve-outs鈥� for Canada, Mexico, and other U.S. allies.
