Factors such as Covid-19, rising energy prices, Russia's invasion of Ukraine, the growing focus on sustainability, and U.S. anti-dumping and countervailing tariffs on steel and aluminum products have put pressure on U.S. import levels and domestic production trends.
The various tariffs introduced in 2018, the long-term contracts that buyers have with suppliers, and uncertainty about how long tariffs 232 and 301 will last have led to a decrease in U.S. metal imports and increased domestic steel and aluminum production.
Buyers may not be able to immediately change suppliers in response to tariffs, while new suppliers may not be able to provide certain product features immediately. Response times for investment and local capacity expansion may be delayed.
Comments
No comment yet.