If one were to only consider the impact tariffs will have on scrap metal products I would say none. Please remember tariffs can be directed to specific countries, specific items, or a combination of the two. A three legged stool could represent our interactions with other countries. The three legs include economics, politics, and security. You cannot operate in one realm without affecting the other two and we will not treat all countries the same.
I have to respectfully disagree about the US ability to process scrap. A desire for more industrial jobs, the ability to gear up production in less than a year after Pearl Harbor, rebuilding the US infra-structure is a goal, the Middle East and Asia are still going to want our metal for expansion, the border wall, ect. all indicate our scrap is valuable. I made a statement in another thread that I expected mills and refineries to pop up in the middle of the country with transportation hubs directed to all borders and coasts.
The current administration is focused on making America Great Again. In my opinion this would encourage isolationism which was popular with Woodrow Wilson and one factor to both World Wars. If other countries raise their tariffs on us we will be heading towards isolation as well. Whether this is good or bad is up to the individual. My prediction: The US is capable of self sufficiency in all three areas and this is a great bargaining chip. Other countries will negotiate to avoid the US from pursuing isolationism. As MikeD pointed out, this could be history in the making.
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