Steel tariff talk causing unexpected ripple BUSINESS

[ABX]

.....Even companies that buy only made-in-America steel complain that rising prices are squeezing their businesses. Qualtek Manufacturing Inc. in Colorado Springs, Colorado, makes precision metal parts for aerospace and medical device companies. CEO Troy Roberts says rising steel and aluminum prices have already driven the annual cost of his company’s key products by $300,000, jeopardizing plans to add 14 jobs to his 74-employee staff. It’s also delaying shipments.

He says his customers can easily divert business to foreign rivals with access to cheaper and more reliable supplies of steel.

The president’s decision to impose the tariffs “cuts us off at the knees,” Roberts says.....

http://www.heraldstaronline.com/news/business/2018/04/steel-tariff-talk-causing-unexpected-ripple/

[GrouchoTex]

From the article:

"The Trump administration last month imposed the tariffs on steel and aluminum, arguing that reliance on imported metals posed a threat to national security. But it promptly granted temporary exemptions, which expire at the end of the month, to several key U.S. allies, including the European Union, Canada and Mexico.

Steel- and aluminum-consuming companies also can appeal to the Commerce Department for exemptions — provided they can show they can’t obtain the metals they need from U.S. producers. As of Tuesday, the department had received 2,180 requests for exemptions from the steel tariffs and 240 requests for relief from the aluminum tariffs."



My company may have to do the same.

[thackney]