President Trump raised prices on steel and aluminum imports at 50% less than three months after imposing A 25% price on them. He said that this decision, made on Wednesday, would help support American steel companies, but many national companies claim that the last increase would harm them and increase the prices of all Americans.
The manufacturers of American houses, car manufacturers, oil producers and manufacturers will be among the most affected. Many companies in these industries and others will probably adopt cost increases to their customers.
“This means higher costs for consumers,” said Mary E. Lovely, a principal researcher at the Peterson Institute for International Economics, a research organization in Washington which tends to promote lower trade barriers.
These are some of the industries that could feel the biggest effects of Mr. Trump’s last rates.
American steel manufacturers
Industrial groups representing national steel producers have praised the most steep samples, which they say, could stimulate investments and create jobs in the United States.
Kevin Dempsey, president and chief executive officer of the American Iron and Steel Institute, said that the last increase would help us steel producers to compete with China and other countries that have flooded the world metal market. Mr. Dempsey said the industry feared that the 25% rate on steel imports is not sufficient.
