SMU Data and Models
July 23, 2017
SMU Analysis: Tariffs Would Burden U.S. Manufacturers
Written by Tim Triplett
The steel market is waiting anxiously to see if the Trump administration places additional tariffs or quotas on steel imports. Opponents of the proposed Section 232 trade action say it will be bad for the U.S. economy, in particular U.S. manufacturers that will have to pay more for raw materials, making them less competitive versus foreign rivals. That appears to be the consensus view of respondents to Steel Market Update’s latest survey of mills, service centers, toll processors and trading companies.
Imposing additional duties on steel imports will place an even higher price burden on U.S. manufacturers, agreed 87 percent of respondents to SMU’s July 17 flat rolled steel market trends survey. Only 13 percent indicated they feel the duties would not overburden manufacturers.
