Seeing as they’re getting targeted right now and are first on trump’s chopping block…
I mean, it’s not like we buy lumps of steel but… I dunno, I figure I’d turn it to the wisdom of the crowds. I know steel/aluminum are mostly input products but there have to be finished products from friendly countries/Canada which use steel and aluminum and thus support our industry, albeit indirectly, right?
There is no concern about aluminum. Canadian aluminum is top quality and in demand. Most USA buyers already signed contracts during the last Trump term that they would continue to buy at their contracted prices and volumes while eating any tariff rates themselves. It has been stated repeatedly that there are buyers around the world lined up waiting to take on any production capacity that is abandoned by existing buyers.
Steel is a bit more of an issue but there is still significant domestic steel consumption especially if we decide to kick off some infrastructure projects. And Europe will be looking for steel as they tool up to rebuild their army.
Build something out of steel and/or aluminum. Thinking of building a shed? Why use wood when you can use corrugated steel?
I read recently that the Aluminium industry will be mostly unaffected. It’s difficult to see how the US would be able to replace Canadian steel imports in the short term, especially not before the next US election. In saying that, I’ve no clue how quickly a country like the US can increase its manufacturing capacity to produce an additional 25% of their steel consumption.
Manufacturers may also be anxious to invest in an expansion like that when there’s no guarantee that the tariffs will remain in place to keep their product competitive, although there’s always the ever reliable lobbying.
If the tariffs had been applied to Canada alone, then it might have become cheaper for US businesses to import from elsewhere, but since the tariffs are a universal 25%, the playing field remains more or less unchanged for all steel imports to the US.
Over time, maybe the US will successfully build up its steel industry and replace their Canadian imports with domestic supply. Hopefully that’s more than enough time for Canada to diversify its trade relationships.
My guess is that this particular Tantrump will be inflationary for all of North America more than anything else.
Krasnov already tried this all before, in his first term. And failed miserably.
Same old weird tired Putin-puppet needs new tactics, lol.
He did, and the US lost about 70,000 or so jobs in steel and related industries and increased the US trade deficit further. What’s the opposite of The Midas Touch?
And it skyrocketed the spot price of steel so much that the company I worked for ate the tariffs and still did record profits.
Oh man. He’s such a stupid bitch.
Honestly I think it’s up to those industries to find better markets. Doesn’t canadian aluminum depend on american aerospace pretty heavily? Unless you want to start a huge domestic aerospace industry there isn’t much you can do as the consumer I don’t think.
Are aluminium drinking cans made in Canada?
If so, drink more canned drinks, less plastic bottled drinks which is a better thing regardless as aluminium is easier to recycle than plastic thus a greener option.
Almost all processing into intermediate and final aluminum products happens in the US, unfortunately.
