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Trump Trade War - White House Denies Tariffs for Closure of Bayou Steel

Steel News - Published on Wed, 09 Oct 2019

Image Source: beaumontenterprise.com
Associated Press quoted President Donald Trump’s trade adviser as saying that tariffs did not play a role in the surprising closure of a steel plant last week. In a statement, Assistant to the President for Trade and Manufacturing Policy Peter Navarro said there are no tariffs on recycled scrap. Mr Navarro said that Edwards mistakenly blamed the closure on Trump’s tariffs and called it a shamelessly partisan attack.

Gov John Bel Edwards said the company uses recycled scrap metal that is “largely imported” and “particularly vulnerable to tariffs The company said that unforeseen circumstances and the inability to secure necessary capital” forced the closure. It also filed for Chapter 11 bankruptcy protection.

President Donald Trump's trade adviser said tariffs did not play a role in the surprising closure of a steel plant last week.

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Posted By : Rabi Wangkhem on Wed, 09 Oct 2019
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