US domestic users feel brunt of US tariffs

US domestic users feel brunt of US tariffs

U.S. manufacturers and industry experts are blaming rising prices on the Bush administration's recently imposed steel tariffs. It is the first time in quite a few years, manufacturers claim, that they have to contend with such a rise in steel prices. Most don't expect prices to drop until autumn this year. The main issue most claim is overcapacity which is still a huge problem for most U.S. steelmakers. Echoes from the U.S. steel industry indicate that one of the other problems is that prices have risen so quickly that some are saying it is difficult to pass price increases through. In addition, corporate bankruptcies have affected prices, causing a halt to at least a fifth of US domestic steelmaking capacity.