There's an industry wide consensus here. There has also been a survey, a survey in March of oil and gas companies by the Dallas Fed, which were littered about complaints around uncertainty. Companies in this survey commented on the rising cost for materials like steel, which was subject to a 25% tariff at the time and is now subject to a 50% tariff as of June 4. Steel is obviously a very important input in oil and gas production and energy production writ large. Mr. Chair, I would like to seek unanimous consent to enter these complaints into the record and without objection. (04:32–04:46)
CLAIM
Asserts that steel tariffs increased from 25% to 50% as of June 4, affecting material costs.
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