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  5. DRX: Hi 5i, I was listening to a steel analyst stating that "value added steel manufacturers" like Russel metals would be exempt from steel tarrifs. [ADF Group Inc. Subordinate Voting Shares]
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Q: Hi 5i, I was listening to a steel analyst stating that "value added steel manufacturers" like Russel metals would be exempt from steel tarrifs. I realize the companies that actually make steel and the steel outputs for downstream manufacturing will be taxed. If this is true then aren't companies like the one mentioned or DRX or HPS also exempt? Now if anything manufactured in Canada is taxed then all bets are off.

Thx
Asked by Christopher on February 12, 2025
5i Research Answer:

These companies may be exempt from the existing steel and aluminium tariffs. But they would not be exempt if Trump does a '25% on everything' tariff. 

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