US Section 232 Steel Tariffs are Effective – Ms Gina Raimondo
Bloomberg reported that US Commerce Secretary Ms Gina Raimondo said some tariffs on imported goods can be effective, citing the steel levies enacted by the Trump administration as helping to counter an oversupply of the product from China. She told “If China is not going to play by the rules, then there’s a place for tariffs, and they have been effective if you just look at how steel production has increased” in the US since the taxes were put in place.”
Ms Raimondo added “To get a level playing field, we sometimes have to use tariffs. Sometimes tariffs can be very effective.”
The Trump administration’s 2018 tariffs on aluminum and steel, which it justified on national-security grounds, remain in place.