Robert Budway, president of the Can Manufacturers Institute (CMI), spoke out following President Donald Trump’s announcement about the increase in steel tariffs, which would rise from 25% to 50%.
CMI supports the approval of the merger between US Steel and Nippon Steel, but expresses strong opposition to any increase in steel tariffs reaching 50%.
Budway warns that this measure would raise the prices of canned foods in supermarkets, affecting millions of American families who rely on these products manufactured by domestic farmers and producers.
The CMI representative explained that, due to unfavorable decisions in the last eight years by domestic producers of specialized steel for tinplate, domestic production of this material has been reduced by 75%.
Currently, almost 80% of the steel for tinplate used in the manufacture of cans and canned foods in the United States comes from imports from allied countries. The increase in tariffs could make these domestic products more expensive and benefit foreign competitors, such as China, who could offer lower prices.
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