Two stories from Friday’s Springfield Business Journal‘s Today in Business newsletter:
George Skarich of Mid Continent Nail Corp. says President Donald Trump’s tariff on steel imports could put the company out of business.
“Cheap nail imports from China and other countries don’t face this tariff and are increasing every day. We need our wire to be excluded from this tariff or we will have to increase the layoffs we’ve already begun,” Skarich says.
The Poplar Bluff-based 500-employee operation is said to be one of the last major U.S. nail manufacturers.
JSW Steel USA plans to invest $1 billion in facilities in Mingo Junction, Ohio, and Baytown, Texas.
“We are going to be hiring over 1,000 people,” JSW President and CEO John Hritz told CNBC.
Hritz credited President Donald Trump’s steel tariffs for allowing the company to supply more steel for defense and infrastructure purposes.
Now, I’ve not studied Common Core math, but this looks like a net positive for employment numbers.
I note, though, that the headlines blame Trump for the job losses but credit the company with job creation.