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People who work in the US steel market. Now that new steel tariffs got announced this morning, what's going on and what are the emotions in the steel industry as of now? (lemmy.dbzer0.com)

submitted 2 days ago by [email protected] to c/[email protected]

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[–] [email protected] 8 points 2 days ago* (last edited 2 days ago) (1 children)

People who work for steel manufacturers are probably ecstatic, because they get to increase their prices by 25%. In theory this will spur more competition in domestic steel manufacturing, but I'm doubtful companies will be willing to invest in adding significant capacity when the tarrifs could disappear in the blink of an eye.

[–] [email protected] 5 points 2 days ago

And even if they wanted to buy domestic, the production capacity will not appear magically.