Michiana companies react to new tariffs on Aluminum and Steel
At today’s Cabinet meeting President Trump announced tariffs on imported aluminum and steel.
Trump signed two tariff proclamations that will implement a ten percent tariff on aluminum and a 25 percent tariff on steel.
Trump said steel is not only an economic issue but one of national security.
Along with the tariff signing, the president say Mexico and Canada would be exempted in the executive action.
Allan Osos of Gibbs Wire and Steel says tariffs with or without exemptions will have a major impact on business.
“We feel that it will have a negative impact on our business, Gibbs Wire and Steel and we feel that it will have a negative impact on our industry that we supply.
Local businesses are not the only ones voicing their opinions.
Congressman Jim Banks of the third district of Indiana says the tariffs will make U.S. businesses less competitive.
Congressman Banks and over 100 congressional members sent a letter to the president urging him not to sign the Executive Action on tariffs on aluminum and steel.
However, with Mexico and Canada being exempt, some local businesses say they’re dissatisfied but the exemption is a step in the right direction.
“That is a big positive for us because we do buy products from Canada; we also have a facility in Canada and in Mexico.”
Local businesses continue to prepare for what they say is a time of uncertainty.