Earlier this month, the Trump administration gave America some excellent news. It lowered tariffs from 25% to 15% on some aluminum, steel, and copper, plus products made from them. The proclamation cited the importance of these goods to national security and American manufacturing.
This move deserves praise because, as we’ve seen, tariffs raise costs by taxing imported items that American businesses need for their operations and sales. A tariff is a tax on an import. When that tax hits steel, copper, or other key goods, the price does not stay at the port. It necessarily moves through the whole economy, reaching factories, job sites, stores, and then kitchen tables.
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