Tariffs 16 results

U.S. Hits Vietnam with 400% Tariffs On Steel

Earlier this week we published an article on the benefits reaped by Vietnam from companies shifting production to their country to escape the U.S. tariffs on products manufactured in China. Yesterday the U.S. Commerce Department imposed duties of over 400% on steel imported from Vietnam to the U.S. The Commerce Department said certain steel products forged in South Korea and Taiwan were being ...

China’s Loss Is Vietnam’s Gain

In the first four months of this year Vietnam has become the eighth largest import partner for the United States, surpassing Ireland, Italy, India and France among others. The trade war between the United States and China continues, forcing manufacturers to move production outside China to avoid paying ever-increasing tariffs on goods bound for the US. In the first four months of this year ...

Foxconn Says US-bound iPhones Can Be Produced Outside China To Avoid Tariffs

“Designed in Cupertino. Made In China”. That’s what is says on the box of every iPhone sold in the United States. For years, Chinese manufacturer Foxconn has produced version after version of the hottest selling smartphone in the world. The question on everyone’s mind lately has been what Apple and Foxconn will do if a 25% tariff is levied on the popular device. Would Apple just absorb ...

Trump Looks To Weaponize Tariffs On The Heels Of Mexico Deal

President Trump appears energized by the swift success of tariff threats against Mexico last week. In an interview with CNBC, the President commented “People haven’t used tariffs, but tariffs are a beautiful thing when you are the piggy bank, when you have all the money. Everyone is trying to get our money.” The Mexican tariffs, which would have imposed a 5% tax on all Mexican imports ...

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 ...