this post was submitted on 12 Mar 2025
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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 18 hours ago by Blaze@lemmy.dbzer0.com to c/ask@lemm.ee
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[โ€“] Ifeelya@lemmy.world 5 points 17 hours ago* (last edited 17 hours 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.

[โ€“] Treczoks@lemmy.world 5 points 16 hours ago

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