80% Of NAFEM Members Surveyed Say Tariffs Are Hurting Business
More than 80% of respondents to NAFEM’s recent survey of its members reported that tariffs on Chinese imports, along with tariffs on imported steel and aluminum, have negatively impacted their businesses.
In the January survey, 50% reported tariffs on Chinese imports are impacting their ability to compete and 53% said these tariffs are hurting sales; 56% said that tariffs on imported steel and aluminum have impaired their ability to compete and 47% said these tariffs are hurting sales.
The majority of NAFEM members surveyed also reported that tariffs on Chinese imports and imported steel and aluminum are raising material costs by up to 15%.
“The survey clearly demonstrates that tariffs are negatively impacting U.S. businesses, which doesn’t bode well for U.S. jobs and a strong economy,” says NAFEM President Joe Carlson, CFSP, president-Lakeside Mfg. “Trade wars have no winners. Now is the time for talks, not tariffs. We’re encouraged by recent Congressional action to work toward a solution to unfair trade practices. We need a solution that does not include tariffs that ultimately hurt American workers and consumers.”
NAFEM offers an advocacy toolkit to help its members share information on the tariffs.