Trump’s steel and aluminium tariffs expected to push import costs up by $100bn

The US import costs of steel and aluminium are projected to rise by over $100 billion following Donald Trump’s recent tariff increase to 50%. This new levy, effective Wednesday, adds an estimated $52.6 billion annually to steel and aluminium costs, doubling previous forecasts. Analysts note that the complex tariff landscape complicates predictions for trade flow and price changes, while US manufacturers may need to raise prices by 2% to maintain profits amid rising costs, impacting earnings of industrial goods manufacturers by 5-10% without price adjustments.

Full Article