Steel and aluminum tariffs are driving up costs for screws, nails and bolts by 30-50%, impacting construction projects and consumer goods prices.

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

A 50% tariff on steel and aluminum products, including derivatives, has led to substantial cost increases for everyday fasteners such as screws, nails, and bolts. Distributors like Robert Lehman, who specializes in marine fasteners, report that costs have risen by 30 to 50%, impacting profit margins and slowing down projects in construction and electrical sectors.

The tariffs have also affected industries reliant on steel and aluminum, including auto and aircraft manufacturing. While distributors attempt to source materials domestically, challenges such as lack of equipment and expertise persist, and raw materials remain subject to tariffs. The uncertainty surrounding future costs complicates budgeting and project planning for businesses.

Steel and aluminum tariffs drive up costs for everyday fasteners

The 50% tariff on steel and aluminum products, including derivatives, placed on most countries is hitting some smaller items with big impacts. We're talking screws, nails, and bolts. Unless you're an avid DIYer or in the construction industry, you probably don't give them a lot of thought. Fasteners. But for distributors like Robert Lehman, who specializes in marine fasteners, it's been a rocky six months. My costs have probably increased between 30 and 50% depending on the item. And that is the vast majority of our margin already. The Rhode Island-based company ships its specialized fasteners all over the U.S. He hasn't had to increase prices for his customers yet, but Lehman is seeing impacts. It has slowed down parts of the economy that you wouldn't even think it would touch. A lot of companies are pushing back large projects. The large projects Lehman sees being postponed are in construction and electrical. In the consumer world, higher prices on metal fasteners are one of the small details making up the larger picture. Steel and aluminum, of course, are used as inputs in a lot of things like auto manufacturing, aircraft manufacturing, construction. All of those industries will see their input costs go up. Fasteners represent a significant part of total material costs for cars, household appliances, and many home improvement goods. The U.S.'s main source for imported fasteners is Taiwan at 33%. Taiwan has built a specialized industry to create high-quality fasteners. It's one of the reasons Lehman sources some products from there. A lot of companies have done this and a lot of importers have done this because ultimately they see foreign producers as being cheaper or higher quality or some combination of the two. Before the tariffs implemented this year, Lehman tried to source more materials from the U.S. Unfortunately, the manufacturers in the United States don't always have the equipment. They don't have the expertise. And even when they do, the raw materials are tariffed as well. The tariffs are significant, but for distributors, the price isn't the biggest problem. The uncertainty is a huge snag. Unable to budget for possible increases at the supply level means project estimates may not match real costs. Holly Ferfer, Scripps News.

Israeli Prime Minister Benjamin Netanyahu announced that his government has approved a plan to release all remaining hostages in Gaza. The move is part of President Trump’s peace plan and could bring an end to the two-year conflict in the region.

Tel Aviv-Yafo

Israeli government approves framework to release hostages

New York Attorney General Letitia James has been indicted by a grand jury in Alexandria, Virginia. She faces two separate charges, one count of bank fraud and one count of false statements to a financial institution.

Alexandria

Federal grand jury indicts New York AG Letitia James

Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of U.S. President Donald Trump's initiative to end the two-year war in Gaza.

Washington

Middle East Conflict

Trump says Israel hostages to be freed early next week

The U.S. Senate held its seventh round of votes Thursday on Democratic and Republican plans to fund and reopen the government, but once again the bills failed to pass.

Senate votes to reopen government fail again on 9th day of shutdown

The chemistry award is the third 2025 Nobel Prize to be announced this week. Three U.S. scientists won the award in chemistry for creating a new molecular structure.

Stockholm

U.S. scientist trio win Nobel Prize in chemistry

Ukrainian President Volodymyr Zelenskyy accused Russia of wanting to sow "chaos" in Ukraine by launching strikes on his country's energy grid and railway infrastructure, in comments published Thursday.

Kyiv

Ukraine Invasion

Zelenskyy says Russia aims to sow 'chaos' with energy strikes

U.S. President Donald Trump announced Wednesday (October 8) that Hamas has agreed to release hostages and Israel will pull back its troops in Gaza in the "first phase" of a peace deal. CBS News' Debora Patta reports.

Jerusalem

Israel and Hamas agree to phase one of peace deal

Russia and China are sending high-level representatives to North Korea for celebrations honoring 80 years of the ruling party. CBS News' Ramy Inocencio reports.

Pyongyang

Russia, China send representatives to North Korea

The Toronto Blue Jays won Game 4 of their American League Division Series matchup against the New York Yankees to advance to the next round of the Major League Baseball playoffs.

New York

Blue Jays defeat Yankees to advance to ALCS

The ongoing U.S. government shutdown has led to major delays and staffing shortages at airports, raising safety concerns. The flight attendants’ union says reduced oversight and overworked crews are putting additional strain on the aviation system.

Aviation less safe during any government shutdown, union warns

Earlier this week, Transportation Secretary Sean Duffy said one of the reasons for staffing shortages at airports is that a growing number of air traffic controllers have been calling in sick. Those controllers don't know when they'll get their next paycheck amid the government shutdown.

Los Angeles International Airport

Why the government shutdown is playing into travel delays

President Trump says he might travel to the Middle East as soon as this weekend as Israel and Hamas continue indirect negotiations to end the war in Gaza. CBS News senior White House and political correspondent Ed O'Keefe has the details.

Cairo

Trump 'may' go to Egypt or Gaza amid Israel-Hamas peace

A 29-year-old Florida man has been arrested on suspicion of arson in connection with the deadly Palisades Fire that scorched parts of Los Angeles earlier this year, officials said Wednesday.

Los Angeles

Man arrested for allegedly starting Palisades Fire in California

Former FBI Director James Comey pleaded not guilty to two counts in federal court on Wednesday (October 8) after being indicted by the U.S. Department of Justice in September.

James Comey pleads not guilty to charges brought by Trump's DOJ

Some air traffic control staffing issues and bad weather are affecting flight delays as the government shutdown enters its eighth day. CBS News senior transportation correspondent Kris Van Cleave has more details.

Government shutdown, staffing issues lead to flight delays

Hamas’ lead negotiator says the group needs guarantees of a lasting peace as indirect talks with Israel to reach an agreement over the implementation of the first phase of Trump’s peace plan for Gaza enter the third day.

Sharm El-Sheikh

Hamas says it is ready to reach Gaza deal but needs 'real' guarantees

Sebastien Lecornu to hold two days of talks to try to shore up cross-party support for his collapsed government.

Paris

Outgoing French PM launches last bid to quell political crisis

Israel is pressing forward with its attacks across the Gaza Strip. 
Its forces have targeted displaced families in Khan Younis, killing a mother and her children. Several Palestinians have also been killed in a strike on Al Shati refugee camp, in Gaza City.

Israeli strikes intensify in Gaza despite ceasefire talks

Palestinian solidarity demonstrators have marched through Mexico and Chile’s capitals, demanding their governments sever diplomatic ties with Israel. The protests mark the second anniversary of Israel's war on Gaza.

Mexico City

Palestinian solidarity protests sweep Latin America

National Guard troops are preparing to be deployed to Chicago. Members of the Texas National Guard arrived just outside the city on Tuesday. The move is being criticized as an abuse of presidential authority.

Chicago

National Guard troops preparing to deploy in Chicago

U.S. President Donald Trump welcomed Canadian Prime Minister Mark Carney to the White House, where he promised to treat Canada fairly in trade talks, but was less committed to a continental trade deal that also includes Mexico.

Trump promises trade fairness for Canada during Carney's visit

From Tel Aviv to the Nova Music Festival site, Israelis gathered to remember those who were killed in the October 2023 Hamas attack.

Israelis remember victims two years after Hamas attack

Saudi Arabia's Riyadh Comedy Festival is attracting global stars including Dave Chappelle, Pete Davidson and Kevin Hart, with reports that some are being paid more than $1 million each. The event is part of Crown Prince Mohammed bin Salman's push to rebrand the conservative kingdom through sports and entertainment.

Riyadh

Riyadh Comedy Festival draws top U.S. comedians amid controversy

Three U.S.-based scientists have won the Nobel Prize in physics for their work on quantum mechanics. The physics award is the second 2025 Nobel Prize to be announced this week.

Three U.S.-based scientists win Nobel Prize in physics

As the war in Gaza reaches its two-year mark, Israel and Hamas continue negotiations in Egypt. Talks are centered on a proposed ceasefire deal, which includes a partial Israeli withdrawal from Gaza and a hostage-prisoner exchange.

Israel and Hamas resume Gaza ceasefire talks in Egypt

Israel has deported activist Greta Thunberg along with 170 others who were detained after Israeli forces intercepted a flotilla attempting to deliver aid to Gaza last week. Some of those deported in recent days have reported mistreatment, allegations that Israel has denied.

Israel deports Greta Thunberg after Gaza Flotilla interception

Leaders in the U.S. state of Illinois are taking President Donald Trump to court, looking to stop the deployment of hundreds of National Guard troops to the streets of Chicago. The White House argues that soldiers are needed to prevent so-called lawlessness.

Chicago declares 'ICE Free Zones' amid clashes over raids

French President Emmanuel Macron has given Prime Minister Sebastien Lecornu 48 hours to stabilize the government following his sudden resignation. Lecornu stepped down hours after naming his cabinet, amid criticism and growing political instability in a parliament without a clear majority.

Macron gives Lecornu two days to salvage government after resignation

Microchip maker AMD got a huge boost in the race to supply the artificial intelligence revolution. OpenAI, the company behind major AI platform ChatGPT, announced a deal for AMD to provide the AI startup with its high-performance processing chips starting next year.

Santa Clara

Rise of AI

AI chipmaker AMD strikes major deal with OpenAI

It's a race against time to save the remaining 200 or so stranded climbers on Mount Everest after a massive storm dumped at least three feet of snow over the weekend.

Steel and aluminum tariffs drive up costs for everyday fasteners

Breakdown

See The Full Story

Global Tariffs