Washington — The decision on imposing U.S. tariffs on steel and aluminum from key countries — expected to come May 1, less than a week before NPE2018 — has been delayed another month by President Donald Trump.
The European Union, Canada and Mexico got another extension, this time until June 1. The Trump administration wants to put a 25 percent tariff on steel and 10 percent on aluminum, but some countries are seeking waivers.
The tariffs would result in higher prices for steel and aluminum, even for U.S.-made steel, industry officials say. That would increase the prices of molds, since for larger molds, the metals could account for about 20 to 30 percent of the cost of making a mold, or even more. For smaller molds, steel and aluminum content might only be a single-digit percentage of the total cost.
For machinery such as injection molding machines, the percentage of steel and aluminum for the total manufacturing cost is less than it is for molds.
The decision to delay a final decision also comes as the U.S., Canada and Mexico continue their talks on potential changes to NAFTA.