Texas steel pipe maker seeks tariff exemption to become 100% American
Borusan Mannesmann Pipe CEO Joel Johnson on the impact of President Trump's tariffs on the company.
Texas steel pipe maker Borusan Mannesmann Pipe US wants protection against President Trump’s tariffs, the CEO Joel Johnson told FOX Business on Wednesday.
Borusan’s headquarters are located in Turkey and Trump’s levies would cost the company as much as $35 million a year and undermine expansion plans.
“What we’ve tried to do is spin this into a unique offer for a deal to President Trump and Secretary Ross is to give us a short-term exemption, allow us time to build a new factory alongside our existing one and become 100 percent American steel and pipe and stop imports,” Johnson said to Maria Bartiromo on “Mornings with Maria.”
Trump says his tariffs on steel and aluminum will boost U.S. business and level the playing field, but Johnson said immunity conforms to what the president wants – more domestic jobs and investments.
The short-term exemption, he added, would also allow Borusan to purchase more hot-rolled coiled steel from U.S. suppliers.