News | February 16, 2018

API: Department Of Commerce's Recommendation To Implement Restrictions On Steel And Aluminum Inconsistent With The Administration's Vision For Economic Growth

API President and CEO Jack Gerard raised serious concerns with the Department of Commerce’s announcement recommending tariffs on steel and aluminum imports to the U.S.

“Today’s announcement by the Department of Commerce to recommend sweeping tariffs around all steel and aluminum imports, in the guise of national security concerns, doesn’t make sense for the U.S. economy,” said API President and CEO Jack Gerard. “These tariffs would undoubtedly raise costs for U.S. businesses that rely heavily on steel and aluminum for the majority of their products – and ultimately consumers.”

The U.S. oil and natural gas industry relies on these global steel imports for the majority of its operations, including steel for drilling, production facilities onshore and offshore, pipelines, LNG terminals, refineries and petrochemical plants.

“This recommendation is inconsistent with the Administration’s efforts to bolster the U.S. economy, support U.S. businesses, and strengthen U.S. infrastructure,” Gerard said.

About API

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 40 million Americans.

Source: API