Notice to BMI Customers: Aluminum & Steel Tariffs
Wednesday, July 04, 2018 0 commentsPost Topics: News
As you may know, the so-called tariff war began with an admirable goal in the United States: the American Government wanted to be self-sufficient and rely on American grown and/or produced materials to create more jobs for their people from within their own economy. As such, the tariffs levied on Canadian aluminum and steel (10% and 25% respectively) now makes the majority of Canadian aluminum and steel products uncompetitive in the American marketplace. Americans will buy American because they can’t afford to do otherwise.
After the American tariffs were announced, the Canadian Government in its wisdom, decided to retaliate by levying the same tariffs on aluminum and steel goods coming from the United States. This means that Canadians will have to pay more for most products that are made from, or are packaged in, these metals. As of July 1st any aluminum coming from the States will have an extra 10% added to the price, while any steel will cost 25% more than it did previously.
These tariffs will affect the price and the availability of goods in the aluminum and steel industries, and will affect Manufacturers (like BMI), the food and beverage industry (canned goods), boats, not to mention the auto industry.
As of July 9th, BMI regretfully must increase prices on aluminum and certain steel products by the same amount: aluminum by 10% and steel by 25%. With the imposition of tariffs, the rising costs to our suppliers and ourselves, as well as the uncertainty in the global aluminum and steel markets, this is a necessary course of action.
We value the support and understanding of our customers and appreciate your loyalty through these times of uncertainty.
If you have any questions please contact your sales representative.