WASHINGTON, May 26, 2021 /PRNewswire/ -- Today at a virtual webinar the Economic Policy Institute unveiled a groundbreaking study that shows the overwhelming positive economic impact of the Section 232 aluminum tariffs. Tom Conway, International President of the United Steelworkers union (USW), Jesse Gary, Chairman of the APAA and James Powell, Casthouse Manager of Century's Hawesville smelter, were joined by Robert E. Scott, Senior Economist and Director of Trade and Manufacturing Policy Research at the Economic Policy Institute and Adam S. Hersh, EPI visiting economist, to unveil this research, which shows that the aluminum tariffs are creating thousands of new U.S. jobs while helping America rebuild.
This new report finds that measures imposed in 2018 under Section 232 of the Trade Expansion Act of 1962 have allowed U.S. aluminum output and employment to rebound, saving an essential American industry. In addition, these measures have had a negligible impact on consumers of aluminum products while jobs and investments in aluminum have increased dramatically.
"Chronic global aluminum overcapacity risks the U.S. industry's ability to maintain operations, grow, and invest in areas essential to national security and broader economic welfare," said Robert E. Scott, EPI Senior Economist and Director of Trade and Manufacturing Policy Research, and co-author of the report. "Maintaining the Section 232 aluminum import measures remains critical to stabilizing and expanding U.S. aluminum production."
"The Section 232 program is allowing the American primary aluminum industry to regain its strength against global overproduction while creating thousands of good-paying direct and indirect aluminum jobs," says Jesse Gary, Chairman of the American Primary Aluminum Association. "This study highlights the incredible impact the Section 232 tariff program has had on our industry that is essential for our country's national defense and our nation's future. If we want to Build Back Better, support American workers, and protect this critical industry, we must keep the Section 232 program in place."
"USW members experienced first-hand the devastation global overcapacity inflicted on their communities, as facilities across the domestic aluminum industry succumbed to unfair trade," said USW International President Tom Conway. "As the EPI's report clearly demonstrates, Section 232 measures provided much-needed relief. As we look to preserve our fragile economic recovery, it's essential that we maintain the tariffs so that domestic producers can continue to invest in expanding their facilities and adding jobs."
"Domestic aluminum production is essential for national defense and critical to the broader economy," said Adam S. Hersh, EPI visiting economist, and co-author of the report. "The Biden-Harris administration should continue and strengthen aluminum import restraints until it can achieve a permanent, multilateral solution to the chronic problem of excess global aluminum production capacity."
About the American Primary Aluminum Association:
The American Primary Aluminum Association advances the interests of America's primary aluminum industry and its workers through the Aluminum Now campaign. APAA is registered and incorporated in Washington, DC and operates as a non-profit trade association. For more, please visit: www.aluminumnow.org