The effect to U.S. metalcasters remains to be seen and it is too early to forecast. U.S. steel companies may consume more local scrap to support increased production of new steel. This in turn could drive up cost and decrease the availability of steel scrap.
Regardless, Waupaca Foundry is relatively insulated in the near term. Out of necessity, Waupaca Foundry strategically procures a local supply of steel scrap, close to its seven U.S. operations.
Trump Signs Metals Tariffs Sparing Some Allies
President Donald Trump kicked his "America First" trade policy into high gear Thursday, launching global tariffs on steel and aluminum, while signaling even more aggressive pressure on trading partners to come, especially against China. In announcing the measures, the president outlined his broader trade agenda, including rewriting existing U.S. pacts and a continuing sweeping investigation of Chinese trade practices, issuing a veiled threat that even bigger penalties are looming against Beijing.