Local Company Feeling Impact of Steel TariffsAugust 2, 2018 4:05am
The effects of a looming trade war between Canada and the United States has started to filter down to local businesses.
Elma Steel, with locations in Listowel, Owen Sound and Cambridge, purchases less than 5% of its steel from the U.S., but the recently-implemented 25% tariff on steel has started to have an effect on business, with huge price fluctuations that change almost daily.
Co-owner Rob Schildroth says “the mills don’t know what’s happening, and we can’t supply enough”.
Schildroth says since January, the price of steel has gone up 40-50% compared to this time last year.
He feels the tariffs represent pressure on the part of President Donald Trump, who he thinks is trying to use the situation to get a better deal, whether it’s the North American Free Trade Agreement or otherwise.