By James Groh Syracuse, N.Y. (NCC NEWS) — President Trump’s proposed aluminum and steel tariff is going to have local effects.
“If it keeps moving, when we bid something a couple weeks later or a month later if we did get it, we could eat the extra money we didn’t know that it would increase again,” Mark Raulli, an engineer and project manager at Syracuse based Raulli and Sons, said.
Contractors bid on jobs and it takes a while for the company to find out if it won or not. With the given tariff, it could mean that the actual price of the job goes up even after the bid was made. It makes the winning company have to pay more than expected.
Trump’s plan includes a 25 percent steel and 10 percent aluminum tax. It’s designed to force American manufacturers to purchase American steel by rendering imported steel too expensive to be cost effective. It’s all part of his plan to bolster the American economy internally.
While this could have major affects on his business, in the end he isn’t losing sleep over the matter.
“There’s nothing we can do about it. I mean people can complain about it. They say all these jobs are going to be lost, but who knows until it actually happens,” Raulli said.
His company suffered something similar to this during the economic crash of 2007/2008. He said all he could do was work with suppliers the best he could to make the most of the situation.
He also said that regardless of what happens he won’t lay anyone off, but that doesn’t mean he won’t have to make tough business decisions.
As of this article’s date March 7th, the President has neither signed the tariff nor announced when he will.