Iowa Business Says Steel Prices Already Skyrocketing Due to Trump Tariff Action

ANKENY, Iowa  --  President Trump announced a new tariff on imported steel and aluminum on Thursday but one Iowa business says its already paying for it.

Kinzler Construction says its see significant increases in the price for steel studs and other materials they distribute in Ankeny.  The company says its suppliers raised prices in the last week as the President first started talking about tariffs.  Those suppliers tell Kinzler its price hikes are being passed on from steel mills.

General Manger Brian Wulfekuhle says the company is doing whatever it can right now to offset further price increases.  "We're being as proactive as possible.  Buying ahead,  stocking jobs well in advance of when they need the material, we're ordering in as much extra material as we could possibly get in advance of the tariffs to make sure we're doing everything we can to help our customers."

Kinzler says it doesn't expect to lay off any workers due to the tariffs.  However they say contractors could choose to switch to wood framing instead of steel to cut costs.