Lubbock steel companies react to President's proposed tariff

Lubbock steel companies react to President's proposed tariff

Posted: Updated:
LUBBOCK, Texas -

President Trump is pushing towards imposing tariffs on imported steel and aluminum despite criticism.

In the South Plains, steel companies are in good shape but some are unsure of the full effect a 25% tariff could have. 

Randy Teinert, owner of Teinert Metals, relies on international imports and said he is fearful he will have to start limiting the amount of steel he is distributing. He said he also believes the tariff could possibly affect other industries.

"It'll affect farmers, the cost of their equipment that they purchase," Teinert said. "Did they make enough money from their last crop to be able to buy the new equipment?"

Teinert said the tax could send the public into a frenzy.

"It's just like when a snow storm or blizzards coming, people go to the grocery store and clean out the shelves and the lumber yard gets all their plywood gone," he said. "It's the same deal. People are in panic mode, they're just trying to buy up what they can."

As for John Beck, the CEO of Beck Steel, he said he is not concerned about the president's push.

"The last time that tariff's were passed back in 2002, the United States had the biggest boom ever in construction from 2002 to 2007," Beck said. 

Beck's company is a steel fabricator, focusing on project management and in-house engineering.

"Material is probably 20 to 30 percent of what we do anyways," he said. "All the material that we buy is here in the United States as it is, and if the price goes up, it probably will go up a small amount." 

Beck's said he hopes the tariff will bring more business to domestic steel and lead the U.S. towards fair trade agreements.

The White House confirms it will make this protectionist policy official in the next two weeks. 

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