SMU Q&A: Trump’s Tariffs Only Temporary?

The Trump administration’s announcement today that it would not spare its closest trading partners from the 25 percent tariff on steel imports surprised many in the market. Effective at midnight, steel from Canada, Mexico and the EU countries will be subject to the same penalty as exports from China and other so-called “bad actors.” Steel executives canvassed by Steel Market Update today expressed a range of emotions with two common themes: prices are likely to get a further boost and trade negotiations are far from over, so the tariffs may be only temporary. Following are some of their more insightful comments (sources were granted anonymity so they could speak freely):

Q: Were you surprised the administration did not exempt the United States’ closest trading partners?