On June 4, 2025, Law360 quoted Ashley Craig on the recent tariff increases on steel and aluminum imports and how they will impact both domestic and foreign business investments in the U.S.
According to the article, President Trump’s recent executive action to double tariffs on imported steel and aluminum continues to impact the U.S. trade environment.
Craig expressed that the tariff approach is unlikely to shift. "In general, the additional tariffs reflect the president's belief that this expansive approach to using tariffs—this is an approach that is likely not to change over the course of this White House."
Law360 reports that while the tariff hikes will raise the costs of imported steel and aluminum, it is likely that domestic sources will become more competitive.
Craig also commented that in the short term, he expects to see a drop in steel and aluminum imports because of the tariff increase. "We may also witness supply chain delays resulting from the disruptions, which importers will need to factor into their operations," he said.
In the long run, Craig said the tariff increases could transform the U.S. steel and aluminum industry to Trump's liking, if domestic production can meet demand.
"Assuming U.S. domestic capability can meet demand, this will mean an increase in production for American consumption," Craig said. "One area that might benefit from this action may be in shipbuilding—a sector that the president has identified as a priority of his administration."
Click here to access the article.