New tariffs went into effect at the beginning of the month on steel and aluminum. Companies have strong feelings about these tariffs and are speaking out. The Plastics Industry Association said, "These tariffs could put these companies at risk of going out of business, all while increasing costs that will be felt throughout the domestic supply chain."
As of June 1, the tariffs on steel ( 25%) and the tariffs on aluminum (10%) became effective. Manufacturing associations reacted swiftly and strongly letting the administration know how this would affect their respective markets. Reactions ranged from warning that " alienating our strongest global allies by launching a tit-for-tat trade war would harm the U.S. economy and undermine American leadership” to "American consumers will continue to bear the brunt of a trade war with our key economic partners.” Read More