Dear IEDC Members,
We wanted to make sure you were aware of the latest news that the White House has announced a new executive order implementing a 25 percent tariff on all steel and aluminum imports to the United States, effective March 4. This action was taken by the Trump Administration to strengthen domestic production and address trade imbalances, and eliminates country-specific exemptions, quota agreements, and product exclusions included in existing trade agreements. With a month until the order goes into effect, ongoing discussions and potential negotiations could influence the policy's future scope, timeline, or implementation.
We recognize that this policy will have varying impacts across our membership, especially given the international participation we have across our programs and membership. Some industries may see potential benefits for U.S. domestic producers, while others could experience supply chain issues. These policy changes may also have deep effects on businesses and communities outside of the U.S. reliant on exports to the United States.
We will continue to keep you updated as we learn more. In the meantime, we encourage all members to:
- Stay Informed: Monitor official communications from the U.S. government, as well as responses from international government authorities, to stay updated on policy changes and potential retaliatory measures.
- Assess Local Impact: Identify industries within your service area that rely on imports or exports. Evaluate potential implications to businesses and supply chains in your region.
- Engage with Affected Businesses: Communicate with local businesses to understand their concerns and provide guidance on mitigating the impact of the tariffs.
- Explore Alternative Supply Chains: Assist businesses in identifying alternative suppliers or new customers to reduce their reliance on imports or exports subject to tariffs.
- Advocate for Support: Work with local and state officials to develop support mechanisms for businesses adversely affected by the tariffs, such as financial assistance or tax relief.
- Keep IEDC informed on what you are hearing and any specific impacts experienced by your communities or regions.
IEDC continues to closely monitor these updates. As more information becomes available, we will provide timely updates and resources to help you navigate these changes.
In the meantime, please do not hesitate to reach out to us with any questions or concerns.
Best regards,
Nathan Ohle
Nathan Ohle
President & CEO
International Economic Development Council (IEDC)
Cell: (202) 774-7992
nohle@iedconline.org
