Tariffs on Steel and Aluminum Impact Local Businesses - NBC10 Boston
President Donald Trump

President Donald Trump

The latest news on President Donald Trump's presidency

Tariffs on Steel and Aluminum Impact Local Businesses

Find NBC Boston in your area

Channel 10 on most providers

Channel 15, 60 and 8 Over the Air

    processing...

    NEWSLETTERS

    Impact of Tariffs on Local Businesses

    As the trade war between the U.S. and its allies continues, there is new concern about the impact it's having in Massachusetts.

    (Published Tuesday, June 26, 2018)

    As the cans roll down the assembly line at Polar Beverages in Worcester, Massachusetts, one thing you can't see is the recent increase in cost to produce the company's popular seltzer and other soft drinks.

    "We're at aluminum at a high right now," said Polar Beverages Executive Vice President Christopher Crowley. "We haven't seen it this high, ever."

    The U.S. tariffs on steel and aluminum for Canada, Mexico and the European Union not only means retaliatory tariffs from those countries, but fears of a trade war leaving prices unsettled.

    And local companies are caught in the middle, paying the price.

    Ohio Woman Cleared of Murder Charges for Newborn

    [NATL] Ohio Woman Cleared of Murder Charges for Newborn

    A young Ohio woman broke down in tears when she was cleared of murder charges involving the death of her newborn child. A jury cleared Brooke Skylar Richardson, 20, of aggravated murder, involuntary manslaughter and child endangerment charges of a baby she had given birth to and buried in the family's backyard.

    (Published Friday, Sept. 13, 2019)

    "There's so much uncertainty in the market and the tariffs just add fuel to the fire, so we went 76 cents a pound aluminum to $1.26," Crowley said.

    Crowley says tariffs are not the only factor, but they add to a growing list of factors that have dramatically increased aluminum costs – including the April sanctions against Russia.

    "This is the way the mischief spreads around the world once a trade war begins," said Babson College Economics professor Kent Jones.

    Jones says consumers will begin seeing cost increases everywhere from the grocery store to the car dealership.

    "When the president unilaterally raises tariffs on things like steel and aluminum, for example, that means anyone in this country who wants to buy steel and aluminum has to pay a higher price for it," said Jones.

    "You have to raise prices," Crowley explained. "If you don't, you're going to have to shut your doors."

    Wreckage of Diving Boat That Killed 34 Lifted From Ocean

    [NATL] Wreckage of Diving Boat That Killed 34 Lifted From Ocean

    Conception, the boat that caught fire on Labor Day, killing 34 people on board, was lifted out of the waters off the coast of California on Thursday.

    (Published Thursday, Sept. 12, 2019)

    But Crowley is confident this won't be a permanent problem.

    "It’'l settle down, it'll settle down," said Crowley. "It swings back and forth, the pendulum, and it'll get back to the middle somehow."


    Get the latest from NBC Boston anywhere, anytime:

    App

    Download our FREE app for iPhone, iPad and Android. You can also follow us on Facebook, Twitter and Instagram, and sign up for our e-mail newsletters.