Fed: U.S. steel prices up "dramatically" due to Trump tariffs

U.S. steel prices have risen sharply since President Donald Trump’s decision to impose tariffs on the metal, the Federal Reserve said Wednesday in its survey of regional economic conditions.

Advertisement

The central bank’s Beige Book, a collection of anecdotal reports from businesses, said there were “widespread reports” in March and early April “that steel prices rose, sometimes dramatically, due to the new tariff.” Prices for building materials such as lumber, drywall and concrete also climbed during the period.

Join the conversation as a VIP Member

Trending on HotAir Videos

Advertisement
Advertisement
Advertisement