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Report: Tariffs Causing Downstream Steel Companies to Delay Investment Decisions
05/14/2018 - Although American steel mills are cheering the Trump administration’s Section 232 steel and aluminum tariffs, they are creating uncertainly among leaders of downstream businesses, which are postponing investments and suspending hiring and expansion plans, reports The New York Times.
According to The Times, more than 8,200 companies are seeking exemptions to the tariffs.
“With just a handful of countries temporarily exempted from Mr. Trump’s steel and aluminum tariffs, companies are scrambling to win exemptions for every screw and spring they import, with each width and length requiring stand-alone filings. One company alone has submitted 1,167 of the filings, according to government officials,” The Times reported.
You can find The Times’ story here.
