With the election locked up and Donald Trump on his way to the White House, many are rushing to analyze the potential impact on a host of issues including regulation and trade.
This week, two of America’s top chemical industry associations — the American Chemistry Council and the Society of Chemical Manufacturers and Affiliates — released statements on their reaction to the results. Based on Trump’s election-season statements regarding the many issues facing the chemicals sector, it’s a mixed bag of optimism and an eagerness to make sure new deals don't cripple the industry.
On the one hand, Trump has promised to be extremely supportive of the fossil fuel industry and will likely make it easier for oil and coal producers to do business. On the other hand, he’s been critical of our current trade deals, which have been a crucial component of success in the chemicals industry.
Trump has also displayed distrust of the Environmental Protection Agency and regulations in general. While the rising cost of regulations has made it tougher for chemical manufacturers to compete, implementing the EPA’s rules — especially the recently passed TSCA reform — are critical to streamlining regulations and enhancing public trust in the industry. It’s unclear how supportive of TSCA reform Trump will be, but many believe that if the EPA is hampered in any way, it could threaten the success of the new regulations.
Here’s part of what the ACC and SOCMA had to say on the new administration,
The American Chemistry Council
The passage of the Lautenberg Chemical Safety Act earlier this year with overwhelming support reflects that Congress understands that an effective and reliable chemical regulatory system is essential to the success of American manufacturers. We look forward to working with the new administration as it carries forward the implementation of the LCSA so EPA proceeds in a way that will promote safety and innovation.
As one of our nation’s largest exporting industries, robust trade in raw materials and finished products helps fuel the growth of our sector here at home. The $175 billion in investment in new factories and expanded production capacity by chemical producers, thanks to domestic shale gas, has positioned the U.S. to substantially grow its role as a premier supplier of essential materials for markets around the world, but reaching that potential will require sound trade frameworks. We agree that trade should be fair, and also know firsthand that trade can unlock potential in our economy and create jobs here at home. We hope to work with Congress and the Trump administration to chart a path forward on trade that will help American businesses thrive and benefit American workers.
The Society of Chemical Manufacturers and Affiliates
Trade is critical to the continued success of our country's specialty chemical industry and continued American leadership around the world. The chemical manufacturing sector is one of America's top exporting industries. SOCMA would like to work with the Administration to ensure there is open and fair trade that levels the playing field, particularly for our small and medium-sized manufacturers who are competing globally, and address barriers that impede the ability of U.S. specialty chemical manufacturers from growing their businesses.
In 2016, Congress passed important and historic Toxic Substances Control Act (TSCA) reform legislation, and we look forward to working with the Administration and team at the Environmental Protection Agency (EPA) to build on the good work that has been done to date. We especially would like to see that implementation is done in a thoughtful and productive way.
SOCMA will actively work with Congress and the Administration to continue to grow the specialty chemical industry and to create jobs and opportunities for the American public.