Tags: Trump Administration | carlos gutierrez | trump | tariff

Bush Aide: Trump Tariffs Won't Save Steel, Aluminum Jobs

Image: Bush Aide: Trump Tariffs Won't Save Steel, Aluminum Jobs
Former Commerce Secretary Carlos Gutierrez (Chip Somodevilla/Getty Images)

By    |   Monday, 05 March 2018 10:49 AM

President Donald Trump's tariffs on steel and aluminum imports won't prop up the sagging industry for long, according to former Commerce Secretary Carlos Gutierrez.

Gutierrez, currently the chairman of Albright Stonebridge Group, ran the Commerce Department under former President George W. Bush from 2005 to 2009. On CNBC's "Squawk Box" Monday, he said that jobs in the steel and aluminum industry have been in decline since 1953.

"And to suggest that we're going to bring back these industries is a little naive," said the former Kellogg chairman and CEO. "Why is it that you're focused on bringing back industries that have been in a decades-long decline instead of creating new industries?"

"It's the way of the world," he added.

On Sunday, Gutierrez told NPR's "All Things Considered" that Trump's idea of tariffs is nothing new, and will do more to harm the U.S. than to help, describing it as "the opening salvo to what could be a trade war," and noting that "trade wars are bad. No one wins. And they're very difficult to stop."

"We're talking about tariffs for all steel and all aluminum imports from everywhere in the world," he continued. "Our biggest exporter or our biggest source of aluminum and steel happens to be Canada, who's an ally."

Gutierrez added that Trump's idea "really is designed to protect U.S. steel and U.S. aluminum. That's the theory. What we have learned over the years is that protectionism doesn't protect. Protectionism actually harms.

"And this is so much bigger than steel and aluminum because what we're doing is challenging the world trade system that we played an important part in bringing together. So that's a problem."

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President Donald Trump's tariffs on steel and aluminum imports won't prop up the sagging industry for long, according to former Commerce Secretary Carlos Gutierrez.
carlos gutierrez, trump, tariff
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2018-49-05
Monday, 05 March 2018 10:49 AM
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