Small Manufacturers Start to Feel the Impacts of President Trump’s Section 232 Steel Tariffs
An article published by Reuters elaborates on the various situations manufacturers now find themselves facing because of these tariffs. Author Rajesh Kumar Singh writes:
On top of changing investment plans, many companies spend hours renegotiating contracts because of increased steel prices. Mike Schmitt, president and owner of The Metalworking Group in Ohio, explained that his company is increasingly hesitant to buy new equipment because of the tumultuous market. He said, “It’s going to be 2019 before we buy anything because we don’t have enough confidence to do it. There’s just too much uncertainty out there right now.”
PMA is participating in the fight against the steel and aluminum tariffs and supporting our members facing the same challenges as Troy Roberts and Mike Schmitt. As a member of the Coalition of American Metal Manufacturers and Users, PMA is committed to combatting permanent damage from Section 232 tariffs. In order to learn more about the Coalition and how you can speak out in this fight, please visit tariffsaretaxes.org or follow the conversation with @tariffsaretaxes on Twitter.