And everything that comes in a can.CNBC reported that Trump’s announcement on Friday that he is going to increase tariffs on steel imports 25-50% this Wed shocked US businesses who rely on imported steel. Steel market analyst Josh Spoore: "This was an absolute surprise. Already steel prices in the US are higher than anywhere else, and it is a net importer which needs to have volumes coming in. All this does is raise prices there. Autos, construction products and appliances are all products that are going to feel the impact."
Meidas Touch
I don't know why they're surprised. Is it because they put money in Trump's pocket to ensure it didn't happen?
US companies import steel from Canada, Mexico, Brazil, South Korea and Germany. We will see if TACO Trump makes an appearance before Wednesday to cave on this too after hearing from his CEO friends.
UPDATE 06/04/2025:
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