this post was submitted on 29 Jul 2025
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The tariff on Steel in USA is very very old (1800s). It was to protect their own production, which would plummet if the tariff was not existed. I think after WW2 remained very low (5%), only to reappear temporarily in 2000s and permanently with the 1st Trump presidency, which Biden kept and now Trump has doubled.
Ofc the reappear of tariffs on Steel made the Steel prices get higher (huge spikes after new tariffs and higher average price in the long term) and all the products made of it. So prepare for American cars price hike.