Tariffs 12 results

Workers At U.S. Steel To Receive Biggest Pay Raise Since 2013

President Trump’s tariffs are working. In an agreement reached on Monday with the United Steelworkers union (USW), U.S. Steel has agreed to a 14 percent pay increase spread out over a 4 year period. The deal, which has yet to be ratified by over 16,000 steelworkers across the country, also includes a lump sum bonus as well as a share in the company’s profits. All of this comes on the heels ...

The Stupid Trump Tariffs

By Tim Grady, Manufacturing Talk Radio Before you read any further, let me define “stupid” as opposed to ‘ignorant’. Ignorant, in my definition, is being unaware of things such as facts or the obvious. Stupid is being well aware of the facts or the obvious and choosing to ignore them. In my view, the Trump Tariffs are stupid for a myriad of reasons: Tariffs have never worked to ...

Classic Car Industry Facing Hard Times Ahead

Another unexpected victim of protectionist trade practices is facing serious financial hardships as a result of the Trump tariffs. Over 20 million Americans spend an estimated $1.5 billion every year on classic cars, trucks and motorcycles. Tariffs place a tax not only on the import and export of the classic cars themselves but also the parts and accessories needed to restore and maintain ...

With No End In Sight, Another Victim of Trump’s Tariffs

Citing financial hardships imposed by the Trump tariffs, Element Electronics today announced plans to shut down their Winnsboro, SC manufacturing plant. In their official notification to the South Carolina Department of Employment, Element stated: “The layoff and closure is a result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including ...

Backlash for US Companies Seeking Tariff Waivers

Tube Forgings of America needs carbon steel tubing. The most cost-effective and consistent source for years has been China. With the tariffs placed on steel imports, China is no longer an option. Jay Zidell, president of Tube Forgings of America has filed 54 exclusion requests with the Department of Commerce looking for relief from President Trump’s tariffs on steel imports. U.S. Steel has ...

Car Tariffs Halted During Trade Negotiations With European Commission

At a press conference in the Rose Garden Wednesday, July 25th, President Trump stated he and European Commission President Jean-Claude Juncker agreed press pause on new tariffs during trade negotiations. The meeting is being regarded by experts as possibly the last opportunity to avoid proposed auto tariffs that would add about $11,700 to the MSRP of a European-built car sold in the U.S. The ...

Tesla Announces Plan To Build a New Factory In China

Just one day after announcing price increases on both the Model S and Model X in China, electric vehicle manufacturer Tesla announced they are moving forward with a plan to build a factory in China with an annual output of 500,000 vehicles. While Tesla’s intention to build cars in China is not new news, it’s hard not to see the connection between the price increases, the accelerated push ...