The recent tariffs put in place by Washington on imported steel and aluminum have caused an immediate spike in prices for domestically produced steel, due to both an increase in demand and speculation in the metal markets. Because of skyrocketing raw material costs, American manufacturers using domestic raw materials are being forced to either slash margins (which can affect jobs) or raise prices, while companies that manufacture overseas are unaffected, as there are no new tariffs on imported finished goods.
Steel and aluminum tariffs were announced in early March and prices began skyrockets on American steel immediately, even before the tariffs were signed. On June 1, the White House expanded the tariffs to include Canada, Mexico and the European Union.
Hellwig Products has been manufacturing suspension for OEMs, the military and the aftermarket using American-made steel for more than 70 years. Melanie Hellwig White, president of Hellwig Suspension Products, has issued a statement in this video, aiming to communicate the “real-life effects a trade war has on small business.”
To watch the statement, click here.
