trade policy | St. Louis Public Radio

trade policy

Mid Continent Steel & Wire company impacted by tariffs on imported steel.
Mid Continent Steel & Wire

A Missouri nail maker has started to bring back workers now that it does not have to pay a 25% tariff on imported raw material from Mexico. Federal trade officials have granted an exemption on nearly all the foreign steel used by Mid Continent Steel & Wire in Poplar Bluff.

Mid Continent Steel & Wire company impacted by tariffs on imported steel.
Mid Continent Steel & Wire

Trump-administration tariffs on imported steel and aluminum imposed last June were intended to boost U.S. production, create jobs and investment in American manufacturing. The impact has been just the opposite at the Mid Continent Steel and Wire company in southeast Missouri.

“We are suffering,” said Chris Pratt, Mid Continent’s general operations manager. “Our company is losing money every month, our employment is down 200 employees since June, and our sales are off 60 percent.”