BRADENTON, Fla. — Experts say President Donald Trump’s new tariffs on steel and aluminum are already spiking prices, which could lead to more inflation in the U.S.

Many businesses are already feeling the pinch, and some say it could eat into profits.

What You Need To Know

  •  President Donald Trump has announced a 25% tariff on steel and aluminum 

  •  Experts say the tariffs are beginning to increase prices 

  •  A Bradenton welding and fabrication company is already experiencing higher prices for raw materials 

Roth Stethem runs Pioneer Welding and Boatworks in Bradenton and says he is already seeing higher aluminum prices.

“I made an order at the beginning of the week and got material in and it was about a $3,000 order," he said. "And with the tariffs going into place, that’s going to be a $4,000 order now."

 

Pioneer Welding was established a year ago and works on custom projects that include everything from a custom exhaust for a Lamborghini to aluminum gas tanks for landscapers.

 

The Trump administration has said these tariffs were designed to eliminate loopholes and exemptions that have led some importers to game the system.

 

Stethem says he is hopeful the tariffs will eventually pay off.

 

"It will be good in the long term, because it will bring manufacturing and jobs back here," he said. "The short term, its definitely going to hurt the smaller guys since we won’t be able to absorb the profit margin losses."