SFNE Responds to Boston Globe Editorial On Buy American Policies and Structural Steel

SFNE President and Government Relations committee member Stephen Capone submits letter to Boston Globe Editoral Board in response to 3/5/24 editorial.

Today, the Boston Globe Editorial Board published a column on the topic of trade and bipartisan support for import tariffs. The column specifically referencing US-produced steel and legislation recently passed in Congress and signed into law by President Biden, including the CHIPS and Science Act and the Inflation Reduction Act

Read SFNE’s Letter to the Editoral Board below:

Dear Boston Globe Editorial Board,

I found today's editorial on inflation to be quite informative. However, I feel that some important points were not adequately addressed in the editorial. Specifically, promoting Buy American measures through Buy Domestic policies or tariffs is a concept that has been introduced previously in the US and other countries. In fact, it has been a longstanding policy in many countries to require domestic content for publicly funded transportation projects such as highways, bridges, and railways, especially in the case of structural steel.

The many fiscal, economic, and sustainability benefits of Buy Domestic policies should be included in the editorial. For one, they ensure that tax dollars are reinvested into the economy to benefit taxpayers. This should be extended to all publicly funded federal and state projects where it makes sense. Such policies can have a significant impact by creating and maintaining domestic jobs, industrial growth, economic growth, and additional tax revenues. We can reduce our reliance on foreign manufacturers by prioritizing local manufacturers and domestic content. The upfront discount from purchasing foreign products comes at a cost: lost jobs, tax revenue, and economic activity.

Moreover, promoting domestic content will have a positive impact on the environment. By reducing the carbon footprint associated with importing and transporting goods, we can make significant strides towards achieving our climate goals.

In conclusion, promoting Buy American measures via Buy Domestic policies or tariffs is worthwhile with numerous long-term benefits for the country. The case has been made that structural steel is a necessary and critical product for buildings, highways, railways, our infrastructure, and more. We must continue prioritizing domestic content, like many countries do, in all publicly funded projects to ensure that our tax dollars are spent in a manner that protects and benefits us all.

Respectfully Submitted,

Stephen J. Capone, President, Steel Fabricators of New England