RESTON, Va. — Yesterday, in a somewhat spontaneous manner, President Trump announced he will approve new tariffs on steel and aluminum next week. Trump has said these new tariffs are necessary to help the U.S. steel and aluminum industries recover from years of unfair trade practices. According to the New York Times, it is unclear whether these tariffs would apply to all imports or be targeted to specific countries, like China, who have been flooding the U.S. with cheap metals.
The tariffs are a result of a “232 investigation,” which focuses on whether certain imports compromise the U.S. national security by degrading the industrial base. In February, the United States Department of Commerce released a report concluding that the imports of steel and aluminum were a national security threat. Once that conclusion has been reached, the law allows the resident wide latitude to impose tariffs and other potential barriers to trade such as quotas.
These new tariffs will negatively affect the RV industry and its many supplier companies that use steel and aluminum, even those who source their steel and aluminum from domestic producers, reported the RV Industry Association (RVIA). With these new tariffs, the cost of imports will significantly rise, but it is also expected that the price of domestic steel and aluminum will increase. RVIA staff have been involved in many meetings on Capitol Hill and at the Department of Commerce on this issue and will continue to advocate on the behalf of the industry. Once the tariffs are formally signed, the association will update its members on the specific provisions.
Courtesy of RVIA