Trade talk: What's the impact of aluminum and steel tariffs?
The Trump Administration recently announced tariffs on raw steel and aluminum. In this Q&A, we discuss what to expect on the trade, tariffs and real estate fronts with our supply chain economics expert, Dr. Walter Kemmsies.
In the current situation, we’re not seeing much negative impact, outside of an immediate increase in spot steel prices. Going forward, tariffs on imports could make our exports more expensive and therefore less competitive, and could also raise consumer prices. We could potentially see some new construction cancelled because of higher costs for construction materials. And, if imports decline, the U.S. inland locations with economies based on imports will suffer.