SMU Data and Models
May 8, 2018
SMU Market Trends: Most Continue to Buy Foreign Steel
Written by Tim Triplett
The vast majority of companies that buy foreign steel say they will continue to source product from outside the United States despite the Trump administration tariffs. About 88 percent of those responding to last week’s Steel Market Update market trends questionnaire say they will continue to buy foreign, while the other 12 percent say they will cease foreign purchases as a result of the 25 percent tariff on steel.
Many respondents to SMU’s questionnaire believe they must continue to buy foreign steel, even at a higher price to account for the tariff, because they have no good alternatives:
