OGF Article US Steel Tariff Exclusion Process Leaves Trail of Confusion

Stephen Whitfield, Senior

SPE.org 

With 6 months having passed since US President Donald Trump announced his intention to impose a 25% tariff on steel imports, the oil and gas industry is still trying to figure out their footing in a newly developing economic reality. The tariffs and import quotas imposed on exporting countries have upped the project costs, and the process by which companies can apply for exclusions for specific steel products has been criticized as opaque, confusing, and slow. For some companies, the news from the initial wave of exclusion decisions has been positive. For others, the decisions have been a net negative. Regardless, the first few months of deliberation have revealed various issues that industry is hoping will be addressed.