Thursday, March 08, 2018 1:00 am
Steel tariffs right call for Indiana, nation
For every action, there is an equal and opposite reaction. It's as true in physics as in public policy.
So we understand why much of the country holds reservations on potential international economic fallout from President Donald Trump's proposed 25 percent tariff on foreign-produced steel.
After Trump told steel executives Thursday he plans to impose the tariff, Wall Street markets dipped and industries that consume steel have warned the tariffs would lead to higher prices.
To the critics, the “equal and opposite” reaction is an economic strain in many sectors.
But to consider the full argument, we all must look at the struggle our domestic steel industry has faced under the practice of illegally “dumped” foreign steel.
Those skyrocketing steel imports, for which Chinese steel companies have been a major culprit, have contributed to the closing of 10 blast furnaces in the past two decades.
Rep. Pete Visclosky, D-1st, has been a steadfast champion of the northwest Indiana steel industry.
He is calling on Trump to make good on his tough talk of imposing the new sweeping 25 percent tariff.
It may sting in other sectors, but we must have a level playing field for what remains a major industry that is vital to the literal skeleton upon which our city's and infrastructure are built.
It's time for our nation's highest leaders to act in defense of our own steel industry – not continue to ignore unscrupulous foreign interests that unfairly erode American assets.
– The Times of Northwest Indiana