AF&PA welcomed its friends and partners from the Corrugated Packaging Alliance to its new office to discuss issue priorities for our industry. Top of mind were the “reciprocal” tariffs that President Trump and his administration announced on about 90 different countries.
Key countries that received reciprocal tariffs on their imports include: China, 34 percent on top of previously announced 20 percent tariffs; Indonesia, 30 percent; Switzerland, 30 percent; India, 27 percent; South Korea, 25 percent; Japan, 24 percent; Malaysia, 24 percent; European Union, 20 percent; and Brazil, 10 percent.
Notably, Canada and Mexico did not receive additional duties on the already-in-place IEEPA tariffs of 25 percent for most imports from these countries. The USMCA exemption for Canada and Mexico remains in effect.
“The stakes for manufacturers could not be higher,” said NAM President and CEO Jay Timmons. “Many manufacturers in the United States already operate with thin margins. The high costs of new tariffs threaten investment, jobs, supply chains and, in turn, America’s ability to outcompete other nations and lead as the preeminent manufacturing superpower. Manufacturers build things in America to sell around the world—and manufacturers in America share President Trump’s goal of supporting manufacturing investment, growth, and expansion. The president has the opportunity to achieve this vital goal while also minimizing disruptions and cost increases across our industry.”
Timmons said the administration should minimize tariff costs for manufacturers that are investing and expanding in the US; ensure tariff-free access to critical inputs that manufacturers use to make things in America; and secure better terms for manufacturers by negotiating “zero-for-zero” tariffs for American-made products in our trading partners’ markets. “That means they don’t charge us, and we don’t charge them,” he said. This situation will continue to be extremely fluid, the AF&PA said. A number of nations have already signaled they are ready to talk to this Administration about various trade deals and negotiations.
https://boardconvertingnews.com/afpa-welcomes-corrugated-packaging-alliance-talks-tariffs/
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