New U.S. Tariff on Aluminium and Steel will Drive the Prices up – America News Hour

New U.S. Tariff on Aluminium and Steel will Drive the Prices up

Tariff on Aluminium and Steel
Image Source: The Wall Street Journal

Toyota Motors based in North America has alerted that the Trump’s administration plan to announce U.S. import duties on aluminium and steel will harm automakers and push up prices.

The company states, “Our procurement philosophy has always been to build where we sell and to purchase where we build”. They further highlights that more than 90% of the steel and aluminium we buy is right here in the U.S. Thus the decision of the U.S. administration to levy tariff will significantly impact automobile manufacturers, suppliers and as well as consumers as this would increase the cost and prices of trucks and cars sold in America.

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Barbara
Barbara is a freelance journalist and an expert in Finance, agricultural investments, economics, financial markets, new media, international relations & politics.

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