The US American Chemistry Council over the weekend urged US President-elect Joe Biden
The US American Chemistry Council over the weekend urged US President-elect Joe Biden and his administration to chart a different path for US trade policy.
“Robust trade in raw materials and finished products helps fuel the growth of our sector here at home – but current costly tariff policy continues to cut into our industry’s competitive advantage,” the ACC said in a statement on 7 November.
With $136bn in exports, the US’ chemical sector is one of the country’s largest exporting industries, according to the ACC.
“Reducing trading costs and promoting a more predictable trading environment can help rebuild our economy, continue to attract investment in the US and ensure that America can maintain its position as one of the world’s leading innovators,” it said.
The ACC noted that the US chemical industry remains a key player on the front lines of the fight against the ongoing coronavirus pandemic by helping to make medical supplies and equipment, including protective gear like masks and face shields, as well as cleaning, sanitizing and disinfecting solutions.
“Maintaining the vitality of our industry and its ability to produce these life-saving materials means maintaining access to our country’s vast shale gas resources,” it said.
“Thanks to these resources the chemical industry continues to drive a manufacturing renaissance yielding $205bn in new chemical industry projects in the United States with the potential to create hundreds of thousands of jobs and nearly $290bn in new economic output.”
In a separate letter to congratulate Biden, the ACC said that the US now faces a “multitude of challenges”.
“You enter office at a uniquely precarious time in our history, one that at its outset will require rebuilding the fragile economy, managing through the Covid-19 pandemic, and uniting and healing a bitterly divided people,” the ACC said.
The Associated Press and other major Us networks on 7 November called the US presidential elections in Biden’s favour as he becomes the first person to defeat an incumbent president since 1992.
Donald Trump has yet to concede and Biden’s victory remains projection as key states are still tallying up votes. Trump’s campaign has filed a slew of lawsuits in various states though their outcome is unlikely to reverse the election results.