On March 9, President Trump followed through on tariffs recommended by his commerce department, taxing steel imports at 25% and imported aluminum at 10%. U.S. neighbors Canada and Mexico are exempted from the tariffs, with Trump saying other countries could potentially receive similar exemptions if they can "ensure that their products no longer threaten our security," according to CNN.
RLD's Monday poll asked dealers how they felt about the tariffs. Weigh in today, ranking your level of concern, and we'll share the results at the end of the week.
Meanwhile, here are a few comments from dealers on how they think the tariffs will affect the rural lifestyle market.
"I feel the media is making a bigger deal of it than tariffs imposed by previous presidents. Obama had tariffs and the media was quiet on them. But maybe the steel and aluminum tariffs are good for America. They are bringing jobs back home. Last week, the Granite City Works steel factory in southern Illinois announced it was reopening. Those are potential new customers for CUE Industry.
Yes, we may see price adjustments in equipment costs, but American jobs could be worth the costs. Previous presidents had tariffs on steel and the American auto industry boomed. I read that most steel and aluminum in the U.S. does not come from China, so it’s not that big of a deal for America. So it sounds like more another media overblow to disrupt the American economy."
Doug Vahrenberg, Vahrenberg Implement, Higginsville, Mo.
"These tariffs would definitely have some sort of effect on market prices, at least short term. My questions is will the prices rise based on speculation or true demand? From what I’ve read, a majority of imported steel comes from many nations other than those the tariff is being targeted at. The key thing is if the American steel industry can or wants to respond to the demand. My thoughts would be that Trump’s motivation may go beyond just the desire to create jobs in the U.S., but more so be that we can source the raw materials to build warships and weapons to defend ourselves.
I don’t know that a dealer could do too much. If they decide to stock up ahead, they may pay for whatever savings they took on pricing with carrying costs."
Name withheld upon request
Do you agree, disagree or have another view? Have the tariffs changed anything about how you're doing business? Share your thoughts below or email me at firstname.lastname@example.org.