People who work in the US steel market. Now that new steel tariffs got announced this morning, what's going on and what are the emotions in the steel industry as of now?
People who work in the US steel market. Now that new steel tariffs got announced this morning, what's going on and what are the emotions in the steel industry as of now?
People who work for steel manufacturers are probably ecstatic, because they get to increase their prices by 25%. In theory this will spur more competition in domestic steel manufacturing, but I'm doubtful companies will be willing to invest in adding significant capacity when the tarrifs could disappear in the blink of an eye.
And even if they wanted to buy domestic, the production capacity will not appear magically.