Losing my religion, part two
A blade and knife manufacturer for the lumber industry suggested that it might have to close its plant in Michigan. The largest nail producer in the U.S. has laid off 60 workers and warns that it may be forced to move its factory to Mexico. A California cannery said its profit margins could drop by up to 70 percent over the coming months. A well-known motorcycle manufacturer said it's shifting some of its production to foreign countries. What is this financial crisis that's affecting so many manufacturing companies? In each case, the Trump administration's tariffs on steel and aluminum are said to be the culprit.