World Trade Center Utah (WTC Utah) President and CEO Derek B. Miller released the following statement regarding Pres. Trump’s steel and aluminum tariffs that recently went into effect.
“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. 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 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.”
About World Trade Center Utah WTCUTAH.COM. The mission of World Trade Center Utah is to promote prosperity across the state by attracting investment and increasing exports. WTC Utah accomplishes this mission through three key objectives. First is to help Utah companies add customers, increase revenue and create jobs by selling internationally. Second is to promote Utah as a premier destination for international companies to establish operations and create jobs. Third is to expand Utah’s global position by hosting foreign dignitaries and leading Utah delegations abroad.