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NAM Concerned Over New Chinese Tariffs

The tariffs target EVs, solar equipment, semiconductors, batteries and medical equipment.

Tariff
iStock.com/Olivier Le Moal

Following the Biden administration’s announcement of new 301 tariffs targeting Chinese products in sectors including electric vehicles, solar equipment, semiconductors, batteries, medical equipment and critical minerals, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

Manufacturers are concerned about the potential impact this broad swath of tariffs could have on our ability to produce the essential products needed to drive our economy forward, especially if critical inputs become less available and more costly.  

 

The NAM has long advocated for a full global strategy and a rules-based trading system that benefit manufacturers and workers by opening new markets with our allies. But when countries play by their own rules and create distortions, the U.S. should consider the use of all legislative and enforcement tools.

 

The expansion of manufacturers’ global reach through a more open and more fair global trading environment has been pivotal to expanding U.S. industrial production to record levels, enabling businesses of all sizes to raise wages and create more high-skilled U.S. jobs. That is why manufacturers urge the administration to negotiate new trade agreements with allies and partners around the world and create a new, comprehensive and transparent 301 exclusion process to ensure that manufacturing in America is not being disadvantaged by our own government.

 

Politicians and policymakers on both sides of the aisle need to understand that we can’t instantly reshape supply chains that took decades to build—especially the supply chains that bring us vital inputs and components essential to our everyday lives.

 

Additionally, to fully unleash the power of manufacturing in the United States, policymakers must also ensure that America maintains a competitive tax and regulatory regime that allows manufacturers to ramp up domestic investment; streamline the permitting process so that new facilities and energy and infrastructure projects will not be held up by red tape; grow the manufacturing workforce; and protect innovation. Together, these policies will help manufacturers create jobs, grow wages and expand exports to the 95% of customers who reside outside of our border.

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