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Here Are 202 Companies Hurt by Trump's Tariffs

September 14, 2018 in Economics

By Scott Lincicome

Scott Lincicome

The debate over tariffs has mostly emphasized their impact on
economic growth and jobs, which overlooks specific stories of
suffering caused by President Donald Trump’s trade war.

These companies have been
forced to take cost-cutting measures such as laying off employees
or forgoing expansion.

Below are more than 200 examples of the damage done by Trump’s
tariffs, aggregated with Republicans
Fighting Tariffs
. The victims and their stories differ, but the
catalyst is the same.

Businesses of all sizes have seen their input costs rise because
of tariffs. To maintain already slim profit margins, many of these
businesses have no choice but to raise prices. Call this the “Trump
tax.”

But not all businesses can offset tariff costs through price
increases, because their customers are price sensitive and will
simply take their business to a foreign competitor. These companies
have been forced to take cost-cutting measures such as laying off
employees or forgoing expansion.

Then there are the countless farmers and exporters who have seen
their markets dry up as trading partners impose retaliatory
tariffs.

As Bob Woodward’s new book reveals, Trump believes that “trade is bad.” The president has
tweeted that “trade wars are good and easy to
win.” These businesses, whose numbers will grow exponentially if
Trump follows through on new tariff threats, would beg to
differ.

  1. ‘47 Brand Hats: The Massachusetts company,
    which faces higher raw material costs thanks to Trump’s tariffs,
    cannot find domestic suppliers to produce hats. It is considering
    job cuts to compensate.
  2. 5th Avenue Energy: This small California
    renewable energy firm found that lighting fixtures and other
    Chinese imports are more expensive and harder to obtain because big
    contractors bought them up in anticipation of tariffs.
  3. A-1 Signs: The Tennessee manufacturer depends
    on competitively priced steel to fabricate products and compete in
    a global marketplace. Tariff-induced steel price spikes have forced
    it to lraise prices, hurting consumers and pushing them toward
    cheaper foreign competitors. If A-1 cannot retain its customers, it
    will have to lay off employees.
  4. ABB: The Missouri electrical manufacturer is
    considering raising prices for its transformers because of tariff
    costs, at the risk of being undercut by foreign competitors.
  5. Able Steel Fabricators: The Arizona
    manufacturer says the construction industry will come to a
    “screeching halt” when customers refuse to pay the higher prices
    that tariffs will bring or subcontractors will be forced to eat the
    increased costs.
  6. Accu-Swiss: The California precision-part
    manufacturer has been forced to turn off the lights while keeping
    its machines on in an attempt to absorb the cost increases caused
    by tariffs.
  7. Alcoa: The aluminimum-product …read more

    Source: OP-EDS