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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThis company in Indiana is already feeling the heat from Trump's new tariffs
Donald Trump pitched his steel tariffs as a way to save U.S. steel jobs, saying it was a move designed to urge "all companies to buy American."
However, some small businesses, like LOOK Trailers in Indiana, are feeling the heat from Trump's trade move.
LOOK's president, Matt Arnold, said the company has seen steel prices increase 25 percent and aluminum as high as 35 percent. He told CNBC that he's afraid his suppliers' prices have even further to run in the months ahead.
Although the company already uses 75 percent U.S. steel and aluminum, now its competitors are also moving from foreign to domestic steel. That's driving up the demand for steel producers domestically and adding costs to businesses' bottom lines.
Arnold said that the company has managed to honor fixed prices on committed orders, but that means they've been "getting hit and absorbing price increases and then pricing out three months."
https://www.msn.com/en-us/money/markets/this-company-in-indiana-is-already-feeling-the-heat-from-trumps-new-tariffs/ar-AAvhP1g?li=BBnbfcL
Winning baby
Angry Dragon
(36,693 posts)onethatcares
(16,178 posts)and the bestest trariffs.
He's gonna save our economy with the bestest most ever wonderful words and things because he loves us.
I heard him say that numerous times.
Angry Dragon
(36,693 posts)gratuitous
(82,849 posts)Is there anyone who could possibly stovepipe Trump's trade war to increased commodity prices and decreased export prices? It's probably far too complicated for any of our popular media outlets to make such a tenuous connection through all the varied steps required. Easier to explain to the American people how the Sisters of the Holy Name are forced to directly fund abortions because they can't sign a simple waiver form.
Thekaspervote
(32,787 posts)Thats what we all would like to know... let us know when you figure it out!