According to a New York Times article, “Who Likes Tariffs,” there are mixed reactions to President Trump’s proposed tariffs on steel and aluminum imports. While many businesses fear increased costs and retaliatory measures, some U.S. industries, particularly steel and aluminum manufacturers, welcome the tariffs as a way to combat what they perceive as unfair competition from subsidized foreign rivals.
Support for Tariffs:
U.S. steel and aluminum companies argue that foreign competitors, especially from Canada and Mexico, benefit from subsidies and government support, allowing them to undercut American businesses.
They believe tariffs will level the playing field, encourage domestic investment, and boost production.
Executives like Stephen Capone of Capone Iron Corporation and Jesse Gary of Century Aluminum express support, citing the need to close loopholes and stimulate domestic production.
Opposition to Tariffs:
Many companies, including Ford Motor, and retailers, fear that tariffs will increase material costs, leading to higher prices for consumers and potential retaliation from other countries.
Specific Tariff Details:
The tariffs impose a 25% levy on steel and aluminum imports from various countries, including Canada and Mexico.
The article also discusses the history of the section 232 tariffs, and how they have been changed, and reimposed.
Impact and Concerns:
Tariffs may lead to significant investment in expanding U.S. steel and aluminum production.
There are concerns about potential price increases for consumers and the impact on industries that rely on these metals.
The article also highlights divisions within the aluminum industry, due to companies having facilities in Canada.
Unions support the tariffs, but object to the application of them to Canada.
Reference
Eavis P. (2025) Who Likes Tariffs. New York Times. March 10.