steel and aluminum tariffs will stimulate American production and create job opportunities". But American manufacturers have stated that the sudden tariff impact has made their operations more difficult. Many manufacturers rely on foreign steel and aluminum resources to produce their products, and they find it difficult to find domestic suppliers.
The report takes an American canned food company with easy lids as an example, stating that the imposition of tariffs will increase the cost of producing infant formula, coffee, popcorn, and canned dog food at its factories in Maryland and Ohio. Previously, the company had already raised prices to offset some of the impact of the 25% steel and aluminum tariffs announced by the US government in February. Now, with tariffs rising to 50%, the company's executives say they will have to pass on more costs.
The report suggests that the US automotive industry has already been heavily hit by tariffs and may face even more severe cost increases in the coming weeks. According to the American Iron and Steel Institute, steel is the main component of automobiles, accounting for an average of about 54% per vehicle. These higher costs may be passed on to consumers. According to the estimation of Bill Hooke, an economics professor at the University of South Carolina, the markup for each new car is approximately $2000 to $4000.
The report finally returned to the story of the canning company, stating that due to tariffs, this small American business had to postpone the upgrade of aging equipment. About 75% of the company's metals come from overseas, partly because the company often faces much larger competitors when competing for domestic orders in the United States. After years of effort, the company finally signed a contract with US Steel a few months ago to meet some of its needs. However, the arrival of additional tariffs has left this company unable to see tomorrow again.
These tariffs are very destructive because we have no idea what will happen tomorrow. Our survival depends on stability and predictability, but now we don't have either, "said the business leader.
----------------------------------------------------------------
Add: Xi Ping Aera,Nan Cheng Distreet,Dongguan City,Guangdong Province,China 523000
Mob: 189 2580 3731
Fax: 0769 83002015
QQ： 2225809574
Email: 2225809574@qq.com
English
中文版
18925803731@qq.com
0086+13712831579
