Governor Ivey Comments on Potential Import Tariffs
MONTGOMERY – On Monday, Governor Kay Ivey released the following statement regarding potential import tariffs.
“Alabama has a rich history as a leader in manufacturing, a legacy which continues in large part, through our five automotive original equipment manufacturers and our over 200 supporting suppliers that have helped establish “Made in Alabama” as an internationally-respected brand. Last year proved to be a banner year for auto industry growth in Alabama, with nearly $3 billion in automotive-related investments. Before the recent announcement of a new Mazda-Toyota plant, and other automotive-related growth, more than 57,000 Alabamians were already employed by our auto manufacturing sector, a number which is expected to increase. However, this growth could be stymied if tariffs are imposed on the goods we export around the world.
“In 2017, Alabama reached a record high of $21.7 billion in exports, with our auto industry accounting for $10.9 billion of those exports. The largest importers of Alabama made goods and services were Canada, China, Germany, Mexico and Japan – all countries which may be forced to reciprocate in response to any new import tariffs.
“Import tariffs, and any retaliatory tariffs on American made goods, will harm Alabama, the companies that have invested billions of dollars in our state, and the thousands of households which are dependent upon those companies for a good-paying job. I strongly oppose any efforts that may harm those companies that employ thousands of Alabamians and contribute billions to our economy. I am committed to protecting Alabama jobs and consumers, the world over, who are proud to purchase products made in Alabama.”