But even as he readied his proposal, talk of President Trump’s steel tariffs sent the price of Stripmatic’s main raw material soaring. He hopes that the president’s tariffs are just a negotiating tactic. Trump’s steel levies were designed to punish China for swamping global markets with state-subsidized metals and to promote U.S. manufacturing. From a 60,000-square-foot plant just off the highway a few miles south of downtown Cleveland, Adler’s roughly 40-person team churns out tubular metal products. He’s in a fiercely competitive business, and his profits will melt if Trump’s tariffs remain indefinitely.

Source: Washington Post June 06, 2018 21:34 UTC