Local Metal Recyclers Feel Mixed Effects from Tariffs

Weitsman says they have seen as much as 20 to 30 percent increases in the price of the scrap metal they sell, a number he expects to keep rising.

SEATTLE (Scrap Monster): Ahead of the tariffs on goods from Mexico and Canada this coming Monday, some local retailers are seeing a positive impact, like metal recyclers like Upstate Shredding.

Adam Weitsman, the Owner and CEO of Upstate Shredding, says this is coming from less reliance on cheap imports, and drawing the demand back to US manufacturers.

'It made a huge trajectory up of scrap prices. So it's been a really great thing. I mean in the short term right now for the business, it's been it's been amazing,' Weitsman said.

Weitsman says they have seen as much as 20 to 30 percent increases in the price of the scrap metal they sell, a number he expects to keep rising.

However, others in the industry such as Todd Greenblott, Owner of Greenblott Metal Company, warns the tariffs may hurt them in the long run.

'The tariffs level the playing field. if it's a bargaining chip, it's probably a positive if they really go into effect for any length of time, going to have huge and inflationary issues at play,' Greenblott said.

Greenblott worrying the cost of the metals eventually coming back to them through items like soda cans, a good Greenblott Metal Company buys over 1.5 million of every month.

Both owners hope the tariffs get all countries involved back to the negotiating table.

'I think it would be important for all the countries involved, china, the united states, to get to the bargaining table, make a level playing field globally, would be better for the marketplace,' Greenblott said.

'I mean, there's always a worry. But I definitely think that people will come to the table. And even if the tariffs don't last, I think the trade will definitely be more balanced and be more fair in the future,' Weitsman said.

Courtesy: www.wicz.com