AIA urges Trump to reconsider tariffs

The Aerospace Industries Association has sent a letter to President Trump asking him to reconsider his plans to impose new tariffs on steel and aluminum.

“Our industry employs 2.4 million people in the United States and produced a trade surplus of $86 billion last year,” the letter states. “Tariffs on aluminum and steel would jeopardize that surplus and put those jobs at risk. Tariffs will also disrupt the supply chain and lead to trade retaliation, diminishing our industry’s market leadership in the global economy.”

Trump is expected today to announce a 25 percent tariff on imported steel and 10 percent on aluminum.

“The letter is the latest effort to highlight our industry’s deep concerns that tariffs on aluminum and steel will raise costs and disrupt the supply chain, putting U.S. global competitiveness at risk,” AIA said.

AIA President and CEO Eric Fanning told CNBC last week the tariffs would impact companies “big and small.”