Additional U.S. tariffs imposed under section 232 on imports of steel and aluminum products and under section 301 on certain imports from China reduced U.S. imports of these products and increased U.S. production and prices of these products, affecting the many industries that produce or sell these products or use them as inputs, according to the U.S. International Trade Commission (USITC) in a report released today.
The report, Economic Impact of Section 232 and 301 Tariffs on U.S. Industries, was prepared in response to a direction by the House and Senate Committees on Appropriations in an explanatory statement accompanying the Consolidated Appropriations Act, 2022, enacted on March 15, 2022.
As directed by the explanatory statement, the USITC, an independent, nonpartisan, factfinding federal agency, conducted a retrospective analysis of any tariffs imposed under section 232 of the Trade Expansion Act of 1962 and under section 301 of the Trade Act of 1974 that were active as of March 15, 2022. These actions included section 232 tariffs imposed on certain steel and aluminum products beginning in March 2018 and section 301 tariffs imposed on thousands of products imported from China beginning in July 2018. The explanatory statement directed that the report focus on the effects on trade, production, and prices in the industries directly and most affected. Read More→
https://www.usitc.gov/press_room/news_release/2023/er0315_63679.htm
