Whatever United States reasons for imposing these tariffs maybe, there is no shying away from the fact that it hits hard on their major suppliers namely the European Union and Canada who have already expressed their displeasure as regards the move by US. What this tariff imposition means in economic terms is that companies that import steel and aluminum into the US will do that at quite a high cost. This of course will drive the prices of steel and aluminum up as there will be limited quantities of these commodities in the US market. Also, this is means high cost of production for companies that use steel or aluminum in their production process and could mean higher prices or cut in jobs by manufacturing companies in a bid to reduce cost.