GOP lawmaker, pipeline CEO nervous over steel tariffs

[DonViejo]

Source: Axios




Amy Harder 42 mins ago

HOUSTON -- A Republican lawmaker and a CEO of a pipeline company expressed concern over President Trump’s plans to impose tariffs on steel at an energy confab getting underway today in America’s oil capital.

The bottom line: Expect this to be one of the most prevalent themes here at the conference, called CERAWeek by IHS Markit, coming just a few days after the tumultuous announcement out of the White House last week.

Fast facts: The oil and gas industry is heavily dependent upon steel to construct pipelines to move their products. Much of the steel used is imported, largely because the type of steel used is not readily available in America.

Quoted:

“Right now the approach seems to be splitting our allies apart.”

— Sen. Daniel Sullivan, Republican from Alaska

Read more: https://www.axios.com/lawmaker-pipeline-ceo-nervous-over-steel-tariffs-8f3b8c6e-817c-42aa-822c-8881ab4e1ce5.html?source=sidebar

[Angry Dragon]

1. I am sure Trump spent many minutes thinking about tariffs and the evil they would bring

[paleotn]

2. Sounds like Russia's approach.

I wonder if Sullivan realizes that. Anyone who make anything out of steel in the US is nervous. No way there's a 25% price difference between imported and US produced steel. If imported goes up 25%, US producers will raise their prices as well. They'd be stupid not to.