There have been abuses from countries when it comes to steel imports that have harmed Ohio's steel and aluminum industries, but Sen. Rob Portman, R-Ohio, said Tuesday the decision to impose tariffs is one that should be considered carefully.
"I think there are abuses," Portman told Fox News' "Happening Now." "We need to tighten the laws."
Three major cases having to do with dumping steel other issues have been won in Ohio, which has helped, and Portman said he thinks it is appropriate to defend companies and workers, but the tuse of tariffs must be handled carefully.
"If it's broad based, it could have unintended consequences," Portman said. "One, the downstream costs for production of automobiles increases and hurts consumers. Second is retaliation. Much less chance of that is that we take a targeted approach. That's what I have been advocating. We met with the president, as you know, and the press was there for the hour-plus meeting."
He agreed tariffs, under Section 232 of the Trade Expansion Act of 1962, are needed "in certain sectors of our industry," which would then "invite retaliation in a more targeted way."
Portman on Tuesday also discussed results of recent tax cut legislation, saying he has met with dozens of companies in Ohio, and all have reported the legislation is helping them be more successful.
"It's exciting," he said. "It's helping everybody. Workers come up to me and say, you don't have to tell me, I'm getting more in my paycheck. It's $2,000 for a median income increase. It's a big deal, and it's working. Businesses are kicking into 401Ks, that kind of thing."
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