Steel and Aluminum Tariff Update
Many WCOE members are concerned about the effect the Administration-imposed 25 percent tariff on steel imports and the 10 percent tariff on aluminum imports, effective March 23, will have on their businesses. Imports from Canada and Mexico were quickly exempted from the tariffs on both products. Ultimately, after threatening to go to the World Bank or impose retaliatory tariffs, Australia, Brazil, South Korea, and the EU will also be exempted. However, it remains to be seen what the impact of the tariff will be on WCOE members.