BAYTOWN, Texas (AP) – President Donald Trump says his tariffs on imported steel and other goods will put U.S. companies and workers on stronger footing by winding back the clock of globalization.
But they could end up backfiring on the very people he is aiming to help. The Commerce Department has been deluged with requests from 20,000 companies seeking exemptions.
A steel pipe manufacturer with Turkish roots, Borusan Mannesmann Pipe US, says that without an exemption it could face levies of around $30 million a year – staggering for a company with plans to expand. But global steel giant Tenaris is more matter-of-fact about the tariffs, saying it will adapt if its request for an exemption is rejected.
Steelworkers worry the effect of the tariffs would be diluted if too many exemptions are granted.