Issues of concern to people who live in the west: property rights, water rights, endangered species, livestock grazing, energy production, wilderness and western agriculture. Plus a few items on western history, western literature and the sport of rodeo... Frank DuBois served as the NM Secretary of Agriculture from 1988 to 2003. DuBois is a former legislative assistant to a U.S. Senator, a Deputy Assistant Secretary of Interior, and is the founder of the DuBois Rodeo Scholarship.
Tuesday, June 26, 2018
Largest US nail manufacturer 'on the brink of extinction' because of the steel tariffs
Steel tariffs could force the nation's largest nail manufacturer to close or move to Mexico.
The Mid-Continent Nail plant in Poplar Bluff, Missouri, laid off 60 of its 500 workers last week because of increased steel costs. The company blames the 25% tariff on imported steel. Orders for nails plunged 50% after the company raised its prices to deal with higher steel costs.
The company is in danger of shutting production by Labor Day unless the Commerce Department grants it an exclusion from paying the tariffs, company spokesman James Glassman told CNN's Poppy Harlow. Mid-Continent Nail is "on the brink of extinction," he said.
Glassman said the company might relocate to Mexico, where it could buy the steel without the tariffs — and then export the finished nails back to the United States without tariffs, which only apply to raw materials...MORE