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Trump's Steel and Aluminum Tariffs Set to Raise Costs Across Key U.S. Industries

The newly implemented 25% tariffs on steel and aluminum imports are expected to increase prices for construction, manufacturing, and consumer goods while straining supply chains.

A man walks past washing machines at a Home Depot. Such appliances could cost more after President Donald Trump imposed 25% steel and aluminum tariffs.
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NEW YORK, NEW YORK - FEBRUARY 11: Canned soup and vegetables are displayed in a grocery store on February 11, 2025 in New York City. As President Donald Trump has now imposed a 25% tariff on all steel and aluminum imports into the United States, economists and trade experts are saying that the price of consumer goods, which use aluminum and metal, could rise as the tariffs take effect. The beer industry, one of the largest consumers of aluminum, has expressed concerns especially as it is still recovering from the pandemic's impact on production and distribution. (Photo by Spencer Platt/Getty Images)
Domestic demand for British steel has contracted just as cheap imports, including shipments diverted from the US, are about to rise

Overview

  • The construction industry, which relies heavily on steel, faces higher material costs and uncertainty, potentially delaying large-scale projects.
  • Manufacturers of packaged goods, including Campbell and other food producers, warn of increased grocery prices due to higher costs for tin mill steel, 70% of which is imported.
  • Automakers such as Tesla and Detroit's Big Three may raise vehicle prices as domestic steel and aluminum producers struggle to meet demand, adding to inflation concerns for consumers.
  • Appliance makers and retailers are preparing for price hikes on products like dishwashers, coffee makers, and toasters, with some increases projected between 10% and 15%.
  • The aerospace and beverage industries express concerns over supply chain disruptions and higher costs for specialized materials, potentially impacting national security and small brewers.