Supreme Court Overturns $200B Steel, Aluminum Tariffs, Easing Costs for DistributionNOW
Supreme Court struck down 2018 steel and aluminum tariffs on $200 billion of imports, removing up to 25% duties on critical industrial metals. DistributionNOW stands to lower procurement costs for pipe, valves and fittings sourced internationally, potentially boosting gross margins on future project bids.
1. Supreme Court Tariff Ruling
The Supreme Court ruled that the 2018 steel and aluminum tariffs imposed under Section 232, covering $200 billion of imports at rates up to 25%, exceeded executive authority and must be removed, ending duties on a broad range of industrial metals.
2. Potential Effects on DistributionNOW
DistributionNOW sources imported steel and aluminum for pipes, valves and fittings; the tariff removal is expected to reduce material costs, enhance competitiveness on bids for energy and industrial projects and contribute to improved gross margins on future sales.