How updated steel tariffs impact the plastics industry
PLASTICS Chief Economist highlights the impact of steel and aluminum tariffs on the plastics industry
The Plastics Industry Association (PLASTICS) has released a new economic analysis, authored by PLASTICS Chief Economist Dr. Perc Pineda, highlighting the impact of the recent expansion of Section 232 steel and aluminum tariffs on the plastics industry.
Dr. Pineda writes, "The U.S. plastics industry leans heavily on imported equipment, particularly injection molding machines, many of which are sourced from overseas, though production continues in the U.S. According to 2023 data, imports accounted for 74.5 percent of domestic shipments, while exports were just 28.9 percent. For plastics processors making everything from bottle caps to car parts, access to this equipment is mission-critical."
"The rationale for Section 232 tariffs rests on national security. Plastics play a role here too — federal defense spending on plastics reached $5.7 billion last year. This estimate is part of PLASTICS' annual Size and Impact study of the plastics industry, with the next edition set for release on September 16, 2025, at an Executive Briefing for PLASTICS members and the press," continued Dr. Pineda.
