President Trump has made it clear that he intends to start and win a “trade war” to protect American steel and aluminum manufacturing by making imported metals too expensive to use instead of the same product produced domestically. That sounds good for American steel and aluminum refiners. Refiners have already started raising their rates up to 30% and profits are booming, creating short term jobs.
However, that raises costs for American manufacturers, companies that make products that include steel and aluminum, such as soda cans, aerospace parts and construction materials. Those cost increases are being passed down to the customer, which means that each of us may be paying more soon for the same product that cost us less just a few weeks ago.
Where do you stand?