The US Supreme Court declined to hear an appeal against steel tariffs by USP Holdings, siding with the former Trump administration, which enacted the tariffs using Section 232 of the Trade Act of 1962.
The Biden administration argued against USP Holdings and other steel importers who claimed they were damaged by the tariffs. The Alliance for American Manufacturing applauded the decision and said that lifting the tariffs without a solution could result in layoffs and plant closures in affected states.
Takeaways:
The US Supreme Court has upheld the former Trump administration’s steel tariffs enacted under Section 232 of the Trade Act of 1962.
The Biden administration has sided with the Trump administration on the steel tariffs and argued against steel importers who claim they were damaged by the tariffs.
The Alliance for American Manufacturing has applauded the decision and warned that lifting the tariffs without a solution could lead to layoffs and plant closures in affected states.
Commentary:
The decision by the US Supreme Court to decline an appeal against the steel tariffs by USP Holdings is a win for the former Trump administration, which enacted the tariffs to boost domestic steel production for national security applications. The Biden administration has upheld the tariffs and argued against steel importers who claim they were damaged by the tariffs.
The Alliance for American Manufacturing has applauded the decision and warned against lifting the tariffs without a solution, which could result in significant job losses and plant closures. The ruling is a reminder that trade policies are complex and require careful consideration of national security, economic, and political factors.
