The Section 232 tariffs of 25 percent on foreign-made steel have benefited Northwest Indiana’s steel industry, prompting U.S. Steel to invest $750 million into Gary Works over the next five years and boosting the profits of U.S. Steel and ArcelorMittal during contract talks, giving steelworkers leverage they didn’t have three years ago.
But the steel tariffs, and tariffs on China, also have prompted retaliatory tariffs from other countries. The U.S. Chamber of Commerce estimates the retaliatory tariffs in a burgeoning trade war could cost Indiana up to $1.1 billion, including in lost steel exports to Canada.
A U.S. Chamber of Commerce study found tariffs threaten $1.1 billion in Indiana exports, including $82 million in cold-rolled steel to Canada, $73 million in zinc-plated steel to Canada, and $51 million in yachts to Canada.
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