Salt Lake City – World Trade Center Utah (WTC Utah) President and CEO Derek B. Miller released the following statement regarding President Trump’s steel and aluminum tariffs that went into effect this morning.
“Tariffs are just another name for taxes. In this case, tariffs implemented by the Trump Administration on steel and aluminum will result in higher prices passed on to U.S. consumers,” said Derek B. Miller, president and CEO of World Trade Center Utah. “Additionally, tariffs placed on steel and aluminum will harm relationships we have with some of our most important trading partners. The retaliatory tariffs announced by Canada, Mexico and the European Union (EU) threaten $122 million in Utah exports primarily in the agriculture, food, electrical equipment and metal industries. Canada, Mexico and the EU are all top five export destinations for Utah companies and accounted for half of Utah’s total exports in 2017.”