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Trump's tariffs on steel, aluminum to raise costs for US energy firms, experts say

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The proposed U.S. tariffs on steel and aluminum imports are poised to escalate costs for U.S. oilfield services companies, which rely on these metals for their operations.
The article from MSN discusses the impact of former President Donald Trump's proposed tariffs on steel and aluminum, which are set to increase costs for U.S. energy firms. According to experts, these tariffs, if reinstated, would lead to higher prices for materials essential for energy infrastructure projects, thereby increasing the overall cost of energy production. The tariffs, which were initially introduced in 2018, aimed to protect domestic industries but have been criticized for potentially raising costs for consumers and businesses alike. Energy companies, particularly those involved in oil, gas, and renewable energy sectors, would face higher expenses for equipment like pipelines, wind turbines, and solar panels, which could slow down the transition to cleaner energy sources and affect the competitiveness of U.S. energy exports. The discussion also touches on the broader economic implications, including potential retaliation from trading partners and the risk of a trade war, which could further complicate the economic landscape for U.S. industries.

Read the Full Reuters Article at:
[ https://www.msn.com/en-gb/money/other/trumps-tariffs-on-steel-aluminum-to-raise-costs-for-us-energy-firms-experts-say/ar-AA1AILFe ]