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Concern about the cost of materials has tempered business enthusiasm about taxing imports. But steel and aluminum makers say they welcome the help.
March 10, 2025Updated 9:23 a.m. ET
The United States buys more steel from Canada than from any other country, and those imports will become much more expensive under tariffs President Trump intends to impose this week.
That’s good news to Stephen Capone, president of Capone Iron Corporation of Rowley, Mass., which makes steel stairs, handrails, gratings and other products and has around 100 employees. For too long, he said, Canadian competitors have been flooding the New England market with cheap steel products, preventing his and other local companies from winning business.
“No matter how low we bid, they can underbid us on any job,” Mr. Capone said. “They’re decimating our market.”
Many companies oppose Mr. Trump’s tariffs, fearing that they will push up costs and provoke retaliation against their products by other countries. Ford Motor’s chief executive, Jim Farley, said last month that tariffs could “blow a hole” in the U.S. auto industry, and retailers have warned that they will lead to higher prices for consumers.
But there are deep pockets of support for his trade policies in the business world, particularly among executives who say their industries have been harmed by unfair trade.
In particular, the leaders of American steel and aluminum companies have long contended that foreign rivals undercut them because those rivals benefit from subsidies and other government support. And they say that tariffs, when imposed without loopholes, have been effective at spurring more investment in the United States.
