On March 8, Trump administration confirms steel and aluminum tariffs on 25% of steel and 10% aluminum coming soon. These tariffs ostensibly design helps 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.
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.
For now, however, you should consider either purchasing your steel very soon before the tariff goes into effect. You can also manufacture your parts at Roller Die + Forming’s Queretaro, Mexico facility. Supported by the same excellent engineering staff and management. Our team can roll, stamp, punch, and die your part in central Mexico before shipping it to your facility.