FOR IMMEDIATE RELEASE - An alert for OKDecor.com Customers
New Steel and Aluminum Tariffs Imposed - March 2018
In a press conference on Thursday, March 1, 2018, President Trump announced the cost for importing steel, iron and aluminum will increase. The tariffs could begin as early as next week.
“The tariffs will be 10 percent for aluminum and 25 percent for steel and iron, lasting for a ‘long period of time,’” CBS News* reported on March 1, 2018. According to CBS, this decision came after it was determined that steel and aluminum imports create a situation that threatens our national security. “Section 232 of the Trade Expansion Act of 1962 gives the president authority to restrict imports and impose unlimited tariffs if a Commerce Department investigation finds a national security threat.”
President Trump said aluminum and steel industries will have to regrow within the United States, which will boost the economy, inevitably, because they will have to hire more workers to meet the growing demand for domestic steel and aluminum products.
What does this mean for you, our customers?
Due to the increase on tariffs our manufacturer has reported that they are seeing increases on all iron within the USA regardless if it was imported or domestic. At OKDecor.com we want to continue to keep AMERICA strong and our manufacturer will continue to use only domestic iron. Together, we are dedicated to providing top quality products at the best possible prices for our customers.
However, due to the increased tariffs previously mentioned, we are recommending that our customers, who are planning on purchasing wrought iron products from OKDecor.com, to make their purchases before May 1, 2018. Our manufacturer has seen the need to increase the price of their wrought iron products by 5% which means that our product prices must increase by at least 5% effective 5-1-18.
*SOURCES: CBS News Report: “Trump announces steel and aluminum tariffs” <https://www.cbsnews.com/news/trump-institutes-steel-and-aluminum-tariffs-live-stream/>