An article posted today in Forbes, “Trade Policy That Leads To Energy Innovation,” by Bob Inglis, mentions the Steel Manufacturers Association’s support for a foreign pollution tariff that would monetize America’s immense carbon advantage over global competitors.
“The Steel Manufacturers Association, representing 70% of domestically produced steel, recently urged Congress and President-elect Trump to enact a foreign pollution tariff or fee on imported steel that’s tied to its embedded emissions,” Inglis writes.
SMA’s Five-Point Action Plan for the incoming administration includes a recommendation for a foreign pollution tariff as well as pro-growth tax policies and an end to regulatory overreach.
The article cites SMA member Nucor as an example of American steelmakers who have embraced cleaner steelmaking technologies and as a result are leading the global effort to decarbonize steel production.
“U.S. steel producers have made tremendous strides in reducing the emissions intensity of their products, showcasing the power of American innovation and private-sector leadership,” Inglis writes. “By embracing technologies like electric arc furnaces, which utilize recycled scrap metal and consume far less energy than traditional blast furnaces, the industry has cut greenhouse gas emissions significantly while maintaining global competitiveness.”
The Foreign Pollution Fee Act introduced by Senator Bill Cassidy (R-LA) and Senator Lindsey Graham (R-SC) is designed to ensure that American manufacturers get the benefit of their investment in clean technology.
Read the article at https://www.forbes.com/sites/bobinglis/2025/01/07/trade-policy-that-leads-to-energy-innovation/.