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What new import tariffs mean for one American steel company

Andie Corban and Kai Ryssdal Dec 5, 2019
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Brazilian and Argentinian steel on the way to the United States got 25% more expensive after the president's tweet. Daniel McNew/Getty Images

What new import tariffs mean for one American steel company

Andie Corban and Kai Ryssdal Dec 5, 2019
Brazilian and Argentinian steel on the way to the United States got 25% more expensive after the president's tweet. Daniel McNew/Getty Images
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On Monday morning, President Donald Trump tweeted that he was restoring tariffs on Brazilian and Argentinian steel, effective immediately. Marketplace host Kai Ryssdal called up Lisa Goldenberg, president of Delaware Steel Co. in Pennsylvania and one of Marketplace’s regular guests, to see what the news means for her company. Goldenberg happened to have a dinner scheduled with several Brazilians who work in steel the evening of the tweet.

“Everybody was literally staring at each other,” she said. “It was just sort of like it fell from the sky.”

Now that Brazilian and Argentinian steel is more expensive, domestic steel prices are on the rise too. “People are scrambling to buy steel,” Goldenberg said.

Despite the bump in business, Goldenberg finds current trade policies “horrible,” but remains optimistic for the future of American trade and manufacturing.

Click the audio player above to hear the interview.

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