CEO of Plains All American Pipeline Greg Armstrong said Monday at a Houston conference that he believes the proposed steel tariffs introduced by President Trump last week could hurt pipeline construction in the U.S.
Armstrong said at the CERAWeek by IHS Markit conference that specific parts needed for pipelines, such as certain types and sizes of pipe as well as specific wells and valves are only available outside of the country.
President Trump last Thursday said the U.S. would impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports starting this week. So far nothing has been pushed forward or gone into writing.
Pipeline projects are surging, and Armstrong says his company needs some flexibility to be able to move forward as Plains currently has about $1.5 billion of projects underway.
Armstrong did praise the state of the permitting and regulatory process, saying it has improved since Trump took office.