Weekly Wrap Up for August 10th, 2018

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Host Lew Weiss welcomes Tim Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee with an unprecedented look inside look at the ISM Manufacturing Report On Business for July 2018. Don’t miss this live report for a deep dive into the report and take a close look at the latest developments through the world of manufacturing.

Here Are Some of This Week’s Top Manufacturing Stories

Trade WarsWith 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 the key television components used in our assembly operations in Winnsboro.” The shutdown, which will begin in October, will reduce the number of people working at the plant to 8 people, down from its peak of 128. (Read More)

Classic TariffsClassic 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 them. (Read More)

Women And Manufacturing