On March 8, Trump administration confirmes steel and aluminum tariffs on 25% of steel and 10%\u00a0 aluminum coming soon. These tariffs ostensibly design\u00a0helps U.S. steel suppliers compete against low-cost imported steel from China and South-East Asia. While these tariffs may make the price of steel rise, there’s the possibility that steel coming from Mexico and Canada. The largest importer of steel, may not be subject to these tariffs. The final decision on this depends on renegotiation of NAFTA.<\/p>\n
For anyone who has been in the business as long as the team at Roller Die, you know that steel tariffs are not new. In 2002, President Bush imposed a 30% tariff on steel with a similar goal – to help domestic steel compete against low-cost imported steel. The tariff expires 21 months before becoming lifted. It remains to be seen whether the current tariff will have a similar effect or if countries that are large suppliers will be able to negotiate favorable trade deals that will keep the cost of raw steel low.<\/p>\n