Local business owners weigh in on impact of tariffs

CHARLOTTE, NC — President Trump signed executive orders Monday– imposing a 25 percent tariff on aluminum and steel import. 

The order will take effect in March. 

The idea is to protect US manufacturers from unfair competition, but some economists argue the tariffs will raise the cost of imported steel and aluminum products by several billion dollars. 

The owner of a local steel company talked with WCCB. 

“With the tariffs you know, we’re hoping that the US mills and US workers are going to be able to be busier, which we hope the demand rises and when the demand rises, the price usually rises,” Owner of Race City Steel Damon Lusk said. 

The latest order comes one week after President Trump announced a one-month pause on other tariffs for Canadian and Mexican goods.