Manufacturing News
April 28, 2026
April 28, 2026 · Statewide · Story 1 of 3
50% Steel Tariffs and Duke and NIPSCO Rate Increases Reset Your Cost Baseline
Section 232 tariffs on most foreign steel and aluminum imports doubled from 25% to 50% as of June 2025. The Richmond Fed has identified Indiana as one of the states carrying the heaviest tariff burden due to its concentration in autos, fabricated metals, and machine shops, and for steel product manufacturing from purchased steel, estimated tariff cost exposure has been running around 60% since mid-2025. That hits every time you buy coil, plate, or structural shapes. On the electricity side, Duke Energy Indiana's IURC-approved increase is rolling out in two stages: roughly 8% in February 2025, with another 3% phasing in during early 2026. NIPSCO received approval for a $257 million annual revenue increase; residential bills climbed more than 26% in 2025 alone, and commercial tariffs are tracking the same direction. Natural gas costs are relatively stable, electricity and materials are not. Indiana C&I operators who haven't rebuilt their 2026 and 2027 budgets around these numbers are planning off a cost structure that no longer exists.
For your morning huddle
- Q
Given the 50% steel and aluminum tariffs and approved rate increases from Duke Energy Indiana and NIPSCO, where are our largest combined cost exposures by product line, and what can we do this quarter to reduce that pressure?
Start with a line-by-line review of steel and aluminum spend by product and map it against the tariff rate. On the electricity side, pull 12 months of bills from both Duke and NIPSCO and identify which facilities carry the heaviest demand and consumption exposure before the next rate phase hits in early 2026.
From the brief, April 28, 2026
- 50% Steel Tariffs and Duke and NIPSCO Rate Increases Reset Your Cost Baseline
- AI Promises Major Uptime Gains, But Only If You Can Staff It
- Elkhart RV Sector Posts a Third Year of Growth, Tariffs Push Back
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