Against the backdrop of more tariffs announced this week by the Trump administration, the National Association of Manufacturers is urging Congress to deliver a “jolt of certainty” to manufacturers by renewing the expiring federal tax cuts that were enacted in 2017.
“Manufacturing is a capital-intensive industry—and we must plan months and often years in advance to grow and compete,” NAM President and CEO Jay Timmons said Tuesday.
“We cannot afford to wait on action, especially with additional cost pressures from the renewal and extension of tariffs,” Timmons said, “Manufacturers are calling on Congress to act now to renew the 2017 Tax Cuts and Jobs Act.”
On Monday, President Donald Trump signed an executive order imposing global tariffs of 25% on all steel and aluminum imported to the United States. The European Commission, the executive arm of the 27-nation European Union, said it would retaliate.
“Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures,” EU President Ursula von der Leyen said on Monday without offering specifics. “The EU will act to safeguard its economic interests.”
The U.S. imported 26 million metric tons of steel products in 2024 and 5 million metric tons of aluminum, according to the U.S. Census Bureau. The 25% tariffs, which the Trump administration said would take effect March 13, could mean higher costs for U.S. manufacturers, particularly the auto industry.
The Trump administration also previously announced 10% tariffs on all imports from China and 25% tariffs on imports from Canada and Mexico, effective Feb. 4. Although the tariff on Chinese goods has taken effect as scheduled, the president announced on Feb. 2 he would pause the tariffs on Canada and Mexico for 30 days.
After the latest global tariffs on aluminum and steel were announced this week, NAM President & CEO Jay Timmons issued a statement noting that U.S. manufacturers are struggling against “global competition, economic headwinds and unfair trade practices from adversarial nations.”
“With critical tax reforms having lapsed and others still set to expire as well as inaction on comprehensive permitting reform, our industry is struggling to invest, innovate and compete,” Timmons said.
Key pro-manufacturing tax provisions from the 2017 tax reforms have already been phased out, with several more set to expire at the end of 2025, Timmons noted.
“Manufacturers are calling on Congress to act now to renew the 2017 Tax Cuts and Jobs Act – failure to do so will put 6 million jobs at risk and make it even harder for manufacturers to drive growth and strengthen supply chains,” Timmons said.
