WILMINGTON, N.C. (WECT) – President Donald Trump announced a 25% tariff on all steel and aluminum imports into the United States. Local construction companies say the tariff could raise costs.
The steel and aluminum tariff will go into effect in March. President Trump says the tariff will help bring money to U.S.-based steel companies.
A large portion of steel used in the U.S. is imported from other countries, including Canada, Mexico, and South Korea.
“Since it was Canada this time around, it definitely made us aware that our prices would get hit harder than the last go-round,” said Adam Cardin, who is the Project Manager of Business Development at Timeless Construction.
In 2018, a tariff was placed on steel coming from China. Cadin says his business did not see a big impact from the 2018 tariff, but the new tariff hits closer to home since he uses a good portion …