(Patrick McGroarty & Bob Tita – Wall Street Journal)
Consumers are starting to see higher prices for recreational vehicles, soda, beer and other goods that now cost more to make as a result of recent tariffs on metals and parts.
When costs rise, manufacturers generally must chose whether to absorb bigger bills for aluminum, steel and imported components, or pass the increases along to customers. Many manufacturers in recent days, including Coca-Cola Co. and Polaris Industries Inc., have said they plan to raise prices.
U.S. steel and aluminum prices are up 33% and 11%, respectively, since the start of the year, as producers and their customers begin to price in the tariffs that the Trump administration first applied on foreign-made metal in March. Tariffs on a host of additional imported products from China this month have added costs for companies that use those components to assemble their products in the U.S. Click here to read more.
- March 2018: Ross Holds Up a Can of Campbell’s Soup to Argue that Trump’s Massive Tariffs are ’No Big Deal’ (Business Insider)
- ‘Happy With Tariffs’: Steel Industry Emerges as Trade War Winner (CNN)
- Pricier Soda and Food: How Tariffs Are Set to Hit Your Wallet (CNBC)
- Tariffs Already Being Felt by U.S. Carmakers (Detroit News)
- Inflation is Coming Thanks to Trump’s Tariffs (Bloomberg)
- Rising Backlash as U.S. Firms Seek Steel Tariff Waiver (Financial Tribune)
- Section 232 Loomed Large at New York Steel Conference (American Journal of Transportation)