Market Segment
February 13, 2025
Manufacturers brace for higher costs with tariffs in play
Written by Stephanie Ritenbaugh
Manufacturers, automakers, and contractors along the supply chain are bracing for impact as 25% tariffs on steel and aluminum will soon be on the table.
Trump authorized the new tariffs under Section 232 this week. However, unlike the first time Section 232 was employed during Trump’s first term in 2018, the latest iteration removed quotas, exemptions, and other carve-outs accumulated over the years. Meanwhile, Canada, Mexico and Europe are calling for retaliatory tariffs.
