US President Trump’s tariffs on foreign steel and aluminum imports recently went into effect, leading some to ask what comes next for steel prices. Will the tariffs benefit the average American worker? Or will the new cost of steel inputs hurt American manufacturing jobs? Will steel prices remain stable, rise slightly, or spike? Will the net effect be positive or negative for the US economy?
The global supply and demand for steel are in constant flux, and steel prices are a reflection of this complex balance. Industrial consumers of steel the world over must keep an eye on global markets and create strategic value-chain relationships to ensure competitive pricing for their raw materials and end products.
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