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Thread: Tariffs and trade !

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    Default Tariffs and trade !

    This is an issue that will take months, or years for the end result to be fully understood. However, the first result is the loss of jobs and industries that won't hire people ( and lay-off people ) as increased costs mean less sales, and higher prices.

    I will add several links to subsequent posts to highlight the issues around the country. Not just one area, but all around the country.

    American boat makers feel the crunch
    NEWPORT, R.I. (AP) — MJM Yachts has already felt the sting of tariffs.
    American boat makers are getting pummeled on multiple fronts by tariffs and stand to be among the industries hardest-hit in an escalating trade war. As a result, they are selling fewer boats, considering raising prices and bracing for layoffs across an industry that employs 650,000 people in the United States at manufacturers, marinas and dealers.
    The timetable for many manufacturers thinking about layoffs is in the next two to three months, Vasilaros said. She also noted that any benefits the industry saw from a Republican-led tax overhaul have been "almost completely negated" as the industry deals with higher prices for materials and components while losing customers to global competitors.
    Mercury CEO John Pfeifer wrote in a letter in May to the U.S. trade representative that similar price shocks in the past caused a more than 50 percent drop in demand for its products. He also said engine manufacturers from Japan and Canada could end up with an advantage in the U.S. market, causing the company to shift highly skilled jobs from the U.S. to Japan.
    Tennessee-based Brunswick Boat Group — which is owned by the same parent company as Mercury — warned in its own letter to the trade representative that tariffs could cause a drop in sales, and in turn, layoffs in the industry.
    American boat makers feel the crunch from Trump tariffs - Herald-Whig -
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    Default Re: Tariffs and trade !

    Some manufacturers are laying off people, some are waving the red flag. Others are hoping for a quick end to the "trade war".

    COLUMBIA, SC
    Beleaguered Fairfield County is losing another 126 jobs after TV-maker Element Electronics said Monday it will close its Winnsboro plant in response to tariffs.
    Element was one of Fairfield’s largest remaining employers, two years after its largest grocery store, Walmart, shuttered its doors.

    In a letter to the S.C. Department of Employment and Workforce obtained by The State, Element wrote “the layoff and closure is a result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including the key television components used in our assembly operations in Winnsboro.”

    The tariffs already have made an impact in manufacturing-heavy South Carolina.
    Swedish automaker Volvo has said it may have to break its promise to hire 4,000 employees for a new plant in South Carolina. And German automaker BMW recently wrote U.S. Commerce Secretary Wilbur Ross saying the tariffs could jeopardize 45,000 S.C. jobs, including 10,000 at its Spartanburg plant and 35,000 at BMW suppliers.
    https://www.thestate.com/news/politi...216196580.html
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    Default Re: Tariffs and trade !

    This one is a shock as the company states the reason as "reductions in government demand" for it's aircraft.
    I thought a defense bill was just passed ? Yet this particular area must have been pushed to the back burner for some reason.

    500 to lose jobs at Lockheed Martin.
    About 500 employees at the Sikorsky Aircraft Corp. plant in north Palm Beach County will lose their jobs, the company said Tuesday, because of reductions in government demand for its aircraft.
    Lockheed blamed the closure of key operations at its Sikorsky Aircraft Corp. plant west of Jupiter in north Palm Beach County on reductions in government demand for its aircraft.
    The union, Teamsters Local 1150, has scheduled a membership meeting for Aug. 11 to update the members on the situation, said Rocco Calo, the union’s secretary and treasurer.
    https://www.mypalmbeachpost.com/news...PCmqtJEHaH1SL/
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    Default Re: Tariffs and trade !

    On to the mid-west part of the country. This is old news, yet highlights to working class people that are being asked to sacrifice for the good of all.
    Isn't that why many programs in this country exist ? Sacrifice some for the good of all ? How do those people feel about that ?

    POPLAR BLUFF, Mo. • On one of the sprawling factory floors at Mid Continent Nail Corp., amid the crushing heat and deafening noise of the machines, towers of coiled steel maybe 3 feet wide and 8 or 9 feet tall stand in clusters around the room like a metallic forest.
    For Poplar Bluff, a poverty-wracked town of 17,000 deep in southeastern Missouri, this wasn’t how Trump’s economic cavalry was supposed to arrive.Within a few weeks of the start of the tariffs, sales had fallen by 50 percent. Company officials say much of its lost business went to cheaper imported Chinese nails.
    Its profits falling, Mid Continent laid off 60 workers in mid-June. It publicly warned that another 200 of its roughly 500 total employees could go by the end of July. And it opened the possibility of folding completely if something didn’t change.
    The company is asking the Commerce Department for an exemption to the tariffs for its supplier, but so are thousands of other companies. Barring that, it says, the plant might relocate to Mexico to escape the effects of the tariffs.
    https://www.stltoday.com/news/local/...95c39c419.html
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    Default Re: Tariffs and trade !

    Another company that announced lay-offs and may possibly move out of the US.

    DeWITT, Ia — A manufacturing company in Eastern Iowa has laid off most of its workforce and halted expansion plans as a result of steel tariffs imposed by President Trump.
    Black Cat Wear Parts in the Clinton County community of DeWitt says it's laid off 10 of its 17 workers and scaled back 80 percent of its production capacity. That company produces blades and other parts for construction, mining and road maintenance, using steel imported from Canada.

    The company's vice-president says it chose to move its production rather than pay the increased cost to bring steel into US.
    https://siouxlandnews.com/news/local...recent-tariffs
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    Default Re: Tariffs and trade !

    Good finds. So much winning.....

    Sent from my SM-J327T using Tapatalk
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    Default Re: Tariffs and trade !

    The steel and aluminum tariff issue is very complex and affects more then any of us know ... or understand.
    Here is a can producing company in Maryland that has asked for an exemption but has yet to receive it.
    Seems there are 20,000 requests for exemptions and only 7 have been approved. ( Possibly not up to date on that number )

    “Proudly made in the USA!” Independent Can Company declares on its website.
    The Belcamp can manufacturer employs hundreds of people in Maryland and prides itself on having brought manufacturing dollars back from China over the past decade.
    “Our business has been to bring things back from China,” Richard Huether, the company’s president and CEO, said. He estimated the company has brought more than $5 million in business back from overseas.
    But without an exclusion from steel tariffs proposed by President Donald Trump’s administration earlier this year, much of that progress could be reversed. Hundreds of jobs could be lost.
    Independent Can has applied for an exclusion from the tariffs, a process that has been bewildering and painstaking for the thousands of companies that are seeking relief.
    Independent Can has submitted five applications to the government, but has yet to get a response.
    Huether has doubts Independent Can would continue to manufacture its products in the United States if the tariffs move forward. Instead, production could move to places with cheap labor, like China.

    The manufactured products would not be subject to a tariff when they are shipped to the United States.
    https://thedailyrecord.com/2018/05/2...steel-tariffs/
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    Default Tarrifs

    https://www.thestate.com/news/politi...216196580.html

    COLUMBIA, SC Beleaguered Fairfield County is losing another 126 jobs after TV-maker Element Electronics said Monday it will close its Winnsboro plant in response to tariffs imposed by President Donald Trump.

    In a letter to the S.C. Department of Employment and Workforce obtained by The State, Element wrote “the layoff and closure is a result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including the key television components used in our assembly operations in Winnsboro.”

    Swedish automaker Volvo has said it may have to break its promise to hire 4,000 employees for a new plant in South Carolina. And German automaker BMW recently wrote U.S. Commerce Secretary Wilbur Ross saying the tariffs could jeopardize 45,000 S.C. jobs, including 10,000 at its Spartanburg plant and 35,000 at BMW suppliers.
    I'm so tired of winning.

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    Default Re: Tariffs and trade !

    All across the country jobs are being cut due to these tariffs and the trade war now on going.
    Sure, other jobs are added in other areas, but tell that to those that have lost jobs.

    JEFFERSONVILLE — A Jeffersonville company is telling national media outlets that it’s had to lay off 75 employees since February because of tariffs.
    The CEO of Brinly-Hardy Co., which was founded in 1893 in Kentucky, but has been manufacturing lawncare accessories in Jeffersonville for 20 years, originally testified before the Office of the U.S. Trade Representative in July about the damages tariffs have been wreaking on her business.
    Jane Hardy warned that the taxes on imported goods could be the “nail in our coffin” for her company, as prices have risen by as much as 37 percent for the domestic steel that Brinly-Hardy uses.
    In response to the tariffs, Brinly-Hardy has cut salaries for employees and eliminated a second production shift, laying off 37 percent of her staff, many of whom worked in production.

    Hardy told the Washington Post she can’t raise prices for her products because foreign competitors would undercut her.
    This Jeffersonville company says tariffs have caused it to lay off 75 | News | newsandtribune.com
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    Default Re: Tariffs and trade !

    China Retaliates With New Tariffs, Hunkering Down for a Long Trade Fight

    BEIJING—Beijing warned it would match the Trump administration step for step should it move ahead with new tariffs on Chinese imports, as trade data showed the country is shoring up its economy for a long trade conflict with the U.S.

    China’s Ministry of Commerce on Wednesday criticized the U.S.’s plan to impose new 25% tariffs on $16 billion in Chinese goods on Aug. 23, and released an updated list of items it would target with similar tariffs that would go into effect the same day.

    “This is very unreasonable,” the ministry said. “In order to defend China’s rightful interests and the multilateral trade system, China has to retaliate as necessary.”
    https://www.wsj.com/articles/china-h...ght-1533731889
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