Page 19 - The South China Business Journal
P. 19
sponded to the survey year due to the U.S. tariffs, contractors in costs for another 60
said they were considering with U.S. benchmarks the second quarter of days before layoffs will
moving some production (e.g., hot rolled band steel, 2018 worried about “the become a necessity.
overseas to avoid below) for steel up more impact of material price
retaliatory tariffs against than 50% and now at least fluctuations on their These are the fruits
the U.S. He said that 50% higher than prices businesses. Steel tops of a trade war: Lower
could cost U.S. jobs. prevailing in Europe. the list of materials prices and lost markets
These soaring prices have concerns, with 86% of for U.S. exporters, and
“Contingency hammered American respondents expecting higher input prices for
planning [for tariffs] steel-consuming to see at least moderate American manufacturers.
is consuming industries: Manufacturers to severe impacts on For consumers, it all spells
large amounts of of nails, lockers, kegs, their business in the next higher prices.
manpower that could and boats have all been three years from recently
be used for more hit hard. imposed tariffs.” It’s time for the
productive projects,” administration to
a manufacturer told Tariffs have also The forecast for carve a new path for its
ISM. “It’s introducing a hit the construction small manufacturers is trade policy – one that
bunch of inefficiencies,” sector. According especially tough. Smaller emphasizes growth and
Mr. Fiore added. to the USG+U.S. firms in sectors such as abandons the blunt
Chamber of Commerce auto parts manufacturing instrument of tariffs.■
Steel and aluminum Commercial indicate they can only
prices have spiked this Construction Index, bear these high input
said they were considering with U.S. benchmarks the second quarter of days before layoffs will
moving some production (e.g., hot rolled band steel, 2018 worried about “the become a necessity.
overseas to avoid below) for steel up more impact of material price
retaliatory tariffs against than 50% and now at least fluctuations on their These are the fruits
the U.S. He said that 50% higher than prices businesses. Steel tops of a trade war: Lower
could cost U.S. jobs. prevailing in Europe. the list of materials prices and lost markets
These soaring prices have concerns, with 86% of for U.S. exporters, and
“Contingency hammered American respondents expecting higher input prices for
planning [for tariffs] steel-consuming to see at least moderate American manufacturers.
is consuming industries: Manufacturers to severe impacts on For consumers, it all spells
large amounts of of nails, lockers, kegs, their business in the next higher prices.
manpower that could and boats have all been three years from recently
be used for more hit hard. imposed tariffs.” It’s time for the
productive projects,” administration to
a manufacturer told Tariffs have also The forecast for carve a new path for its
ISM. “It’s introducing a hit the construction small manufacturers is trade policy – one that
bunch of inefficiencies,” sector. According especially tough. Smaller emphasizes growth and
Mr. Fiore added. to the USG+U.S. firms in sectors such as abandons the blunt
Chamber of Commerce auto parts manufacturing instrument of tariffs.■
Steel and aluminum Commercial indicate they can only
prices have spiked this Construction Index, bear these high input
