API: Administration must minimize harm to infrastructure and jobs from steel and aluminum tariffs
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WASHINGTON, March 1, 2018 – Following the President’s announcement on steel and aluminum tariffs today, API President and CEO Jack Gerard emphasized the need to ensure U.S. oil and natural gas investments in American infrastructure, facilities and jobs can continue.
“The actions taken today are inconsistent with the Administration’s goal of continuing the energy renaissance and building world class infrastructure. The U.S. oil and natural gas industry, in particular, relies on specialty steel for many of its projects that most U.S. steelmakers don’t supply,” said Gerard.
“Consideration must be given to continue the unprecedented and historic energy renaissance that our industry has driven through important investments that have driven job creation and economic growth.”
This afternoon, President Trump announced his intent to impose a 25 percent tariff on imported steel and a 10 percent tariff for imported aluminum, regardless of country of origin, the details of which will be unveiled next week. Implementing this trade policy could create confusion in supply chains, unnecessary costs and impacts to U.S. capital intensive projects, and threaten high-paying industry jobs.
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.
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.