Louisiana could see negative affects from newly imposed tariffs

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On Friday the United States formally imposed a 25% penalty tax on a long lost of Chinese goods. 

The Trump administration’s 25 perfect tariff affects more than 800 Chinese products, including steel. 

In Iberia Parish, the Port of Iberia historically has been a steel fabrication facility. 

“We fabricate everything from jackets to platforms, any and everything having to do with the exploration of oil and gas. The suggestion of the tariffs, I’ve heard a lot of talk because it’s factoring into the cost of any project that any oil company is looking at, whether it be a platform then it would involve a lot of steel,” says Craig Romero. 

With the port using so much steel, these increased prices are something companies are watching closely. 

“None of the large fabricators here, they’ve spoken that it would have a negative effect on their business at some point in time but they have not reflected are pointed at any particular project that is going to cause problems in the immediate future,” says Romero. 

Romero says many companies have found different ways to become more efficient. He says, “We hope that the increased cost of steel and aluminum doesn’t cost them, or cause them to really make a negative decision on building something in Louisiana.”

 

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