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According to promises made by President Trump, the USA is planning to impose a 25% tariff on imports of steel and aluminium.
The UK government has not yet responded to Trump’s tariff policy by charging levies on US steel imported to this country. This means that warehouse operators are unlikely to be significantly affected by the tariff policy.
New warehouses use a lot of steel in their construction and the equipment used in them. US manufacturers of warehouse equipment will have increased costs if they use non-US steel and this will put up their selling prices. A British warehouse equipment manufacturer will not have to purchase steel with a tariff. Provided equipment is sourced from a British producer, their cost should not significantly rise in 2025.
According to market analysis by BMI, metal prices are forecast to be lower in 2025 than in 2024. If warehouse construction costs rise this year, it will probably not be due to significant steel price rises.
Steel tariffs could increase the cost of vehicles made in the USA. The average car is made with 1,000 pounds of steel. A 25% tariff on steel could add $1,500 to the cost of making a car. Most UK warehouses don’t use cars, delivery vans or forklifts made in the USA so, again, they should not be affected by the steel tariffs.
There are many reasons why warehouse costs rise, including energy prices and the increase in National Insurance rates, but very expensive steel is unlikely to be a major cost factor in 2025.
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