The Can Manufacturers Institute (CMI) has released a statement that expresses its disappointment that the Trump Administration has proceeded with its decision to impose tariffs on steel and aluminum.
“The US can manufacturers depend on stable, fair and robust markets for steel and aluminum to manufacture the 115 billion food, beverage, aerosol and general line cans Americans use every day,” says CMI President Robert Budway. “Our initial calculations are the tariffs will increase the cost of the can by nearly 1 cent. This 1 cent average increase translates into $1.5 billion that our industry and consumers will unnecessarily pay to the U.S. government.”
“We appreciate the President temporarily exempting Canada and Mexico from this tariff,” Budway says, “but we still strongly encourage an exemption for the specific steels and aluminum products used to make food and beverage cans.”
The CMI says 42 percent of tinplate steel needs to be imported to manufacture food cans that provide nutritious product for American consumers. More than 60 percent of primary aluminum needs to be imported from foreign sources to produce aluminum cansheet, used to manufacture beverage cans.
“Tariffs on aluminum and steel will artificially distort pricing of these metals,” Budway says. “Consumers and our industry’s workers and their families will ultimately pay the price of these punitive actions. We encourage the President to reconsider these tariffs. We do not want tariffs to offset the tremendous benefits the President’s tax and regulatory reforms brought to our industry and our 22,000 American workers.”
