Bill Text: NJ SR105 | 2018-2019 | Regular Session | Introduced


Bill Title: Urges President to rescind tariffs on imported aluminum and steel.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2018-10-15 - Introduced in the Senate, Referred to Senate Commerce Committee [SR105 Detail]

Download: New_Jersey-2018-SR105-Introduced.html

SENATE RESOLUTION No. 105

STATE OF NEW JERSEY

218th LEGISLATURE

 

INTRODUCED OCTOBER 15, 2018

 


 

Sponsored by:

Senator  VIN GOPAL

District 11 (Monmouth)

 

 

 

 

SYNOPSIS

     Urges President to rescind tariffs on imported aluminum and steel.

 

CURRENT VERSION OF TEXT

     As introduced.

 


A Senate Resolution urging the President of the United States to rescind tariffs on imported aluminum and steel.

 

Whereas, On March 8, 2018, President Donald J. Trump signed Presidential Proclamation 9704 (Adjusting Imports of Aluminum into the United States) and Presidential Proclamation 9705 (Adjusting Imports of Steel into the United States); and

Whereas, President Trump, exercising presidential authority under section 232 of the "Trade Expansion Act of 1962," imposed a 10 percent and 25 percent ad valorem tariff on aluminum and steel articles, respectively; and

Whereas, Due to the President's executive decision to impose tariffs on imported aluminum and steel, impacted foreign nations (Canada, China, Mexico, and the European Union) have already retaliated or announced plans to retaliate against the new tariffs; and

Whereas, The U.S. Chamber of Commerce estimates retaliation by impacted foreign nations could threaten $920 million in New Jersey exports and could place nearly 1.2 million New Jersey jobs supported by global trade at risk; and

Whereas, A report by The Tax Foundation concluded the President's tariffs on imported aluminum and steel would cost New Jersey businesses an additional $477 million - the eighth highest in the nation; and

Whereas, The additional costs to New Jersey businesses will be borne initially by New Jersey firms that purchase imported steel or aluminum and eventually passed on to New Jersey consumers through higher prices; and

Whereas, Small business owners in New Jersey have communicated the strain aluminum and steel import tariffs have or will place on their businesses resulting in New Jersey firms exercising a difficult choice of increasing prices or cutting expenses; and

Whereas, New Jersey manufactures that use steel and aluminum as raw materials in their products are at a disadvantage against competitors that are not subject to tariffs; and

Whereas, Import tariffs are affecting the supply of raw materials, which has led to larger companies hoarding available U.S. supply; thereby, limiting the access to materials New Jersey's firms need to make their products; and

Whereas, Some New Jersey manufactures have been denied federal product-based exclusions from aluminum and steel import tariffs, even though import tariffs have had a negative impact on their firm; and

Whereas, Import tariffs on aluminum and steel articles are creating uncertainty in the manufacturing sector in New Jersey and a potential barrier to economic growth in the State; and

Whereas, On March 8, 2018, Congressman Bill Pascrell Jr. (D-NJ), expressed concern that the import tariffs should be more targeted rather than across-the-board tariffs against all nations, including allies of the United States; and

Whereas, On March 9, 2018 Congressman Leonard Lance (R-NJ) expressed concern that the import tariffs will not only result in higher prices for  New Jersey taxpayers, but also hinder job creation in the Garden State; now, therefore,

 

     Be It Resolved by the Senate of the State of New Jersey:

 

     1.    This House respectfully urges the President to rescind Presidential Proclamation 9704 (Adjusting Imports of Aluminum into the United States) and Presidential Proclamation 9705 (Adjusting Imports of Steel into the United States).

 

     2.    Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Secretary of the Senate to the President of the United States.

 

 

STATEMENT

 

     This resolution urges the President of the United States to rescind his administration's decision to impose tariffs on imported aluminum and steel.

     Unless revoked, Presidential Proclamation 9704 (Adjusting Imports of Aluminum into the United States) and Presidential Proclamation 9705 (Adjusting Imports of Steel into the United States) could threaten New Jersey exports as nations impacted by new tariffs retaliate against the United States with tariffs against U.S. exports. Additionally, President Trump's decision to impose tariffs will hurt New Jersey firms and consumers as increased costs are shifted on to businesses that import aluminum and steel and eventually on to consumers through higher prices.

     Therefore, the President is respectfully urged to rescind his position to impose tariffs on imported aluminum and steel.

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