OKLAHOMA CITY, Okla — After President Trump announced a baseline 10 percent tariff on imports, many industries are bracing for the effects, construction being one of them.
Robby Hagemann is the President of Boardman, LLC. in Oklahoma City.
He said steel has been one of the biggest resources to see an increase in prices the most.
“I read something today, it was specific to some stainless plate was like, 40 bucks a ton," he said. "Which doesn't sound like a lot, but when you're buying 1000s of tons, it adds up.”
Hagemann said his company has always dealt with fluctuating prices.
He said steel prices have been going up steadily since last year but were very low more than a year ago.
“It's always equalizing," he said. "Prices are always going up or coming down, and they never stay where they are. There's never an optimal place for prices to be.”
But now, he said his team will also have to face some competition from other countries.
“We can't compete price wise, and so that comes from the government rules and regulations," said Hagemann. "Labor’s more expensive here, and for good reasons.”
Still, Hagemann said he has hope the tariffs will bring more wealth to everyone in the future.
“Yes, things are going to cost more in the short term," he said. "I think it'll end up playing out good in the long run, but I think ultimately it will help out businesses, creating a better, more level playing field.”
Stay in touch with us anytime, anywhere --
- Download our free app for Apple, Android and Kindle devices.
- Sign up for daily newsletters emailed to you
- Like us on Facebook
- Follow us on Instagram
- Watch LIVE 24/7 on YouTube
