Scrap Metal Tariffs

Scrap metal companies may benefit from the recent tariff hikes.

The president of the United states of America unveiled a string of new tariffs which the  house called Liberation Day.

Though this new set of tariffs could have some negative impacts on some industries, many expects in the field are convinced it will be of great benefit to the metal scrap industry as a whole.

For instance the finance instructor B. Jacobsen said as tariffs increase the cost for imported metals, the demand and prices for domestically sourced scrap metal will increase as well.

More than a third of all U.S. scrap metal is exported to some countries like Mexico and Turkey so Jacobsen said we have to be aware of the possibility of retaliation from other countries as the effects will not be without impacts on our markets.