Lauren Simonetti of Fox Business reports on how one American business owner is leveraging President Donald Trump's tariff plans.
President Donald Trump aims to increase the competitiveness of America's manufacturing and tariffs.
Last week, the country's 47th president used Section 232 of the Trade Expansion Act of 1962 to recover a 25% tariff on steel imports and increased the tariff on aluminum imports to 25%.
The White House argues that these tariffs will help “revitalize the domestic steel and aluminum industry” and will regain production.
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President Donald Trump has signed an executive order and has imposed a 25% tariff on imported steel and aluminum. (Jabin Botsford/Washington Post by Getty Images)
More recently, the Trump administration has announced plans to develop mutual tariffs.
“It's fair to everyone, other countries can't complain, and in some cases, if the country feels that the US is too high, what they have to do is, All we need to do is reduce or end tariffs on them,” he said in a truth-social post about the Trump plan. “There are no customs duties when manufacturing or building products in the United States.”
He also said it was “treating us fairly – a level playing field for American workers.”
Fox Business' Lauren Simonetti I recently spoke to Mark Andol, founder of Made In America Store. This is a business that is trying to increase American production by placing only products made in the US on shelves.
“I don't have it [anything] It connects or removes batteries from 15,000 products. We've been to the moon and can't make a toaster. We must want. You must once again make “America made in America” important,” he said.
Meanwhile, Tim Herzog, founder of Flying Bison Brewing Company, said Simonetti's tariffs could have a negative impact on costs.
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“Where we are, the light, delicate malt, which is currently popular with beer, is from Canada. It is grown in upstate New York and sent back to Canada to return to malt and across the border. It's going to pass and the tariffs will come back,” he said. “Prices are crazy.”
According to the Bureau of Labor Statistics, the number of US manufacturing employees was 176 million in January as of January. That's millions less than you would expect from the 80s and 90s.
According to preliminary BLS data, at the end of the second quarter of 2024, there were around 403,000 private manufacturing facilities in the United States.
Trump's Treasury Secretary shuts down tariff concerns and praises “frictionless world trade”
Since taking office, Trump has also been busy pursuing other tariffs.
Donald Trump (Bill Pagliano/Getty Images)
He carved an executive order on 25% tariffs on imports from Canada and Mexico, and a 10% tariff on imports from China this month. However, his administration suspended taxation focused on US northern and southern neighbors after Canada and Mexico agreed to take steps to strengthen enforcement at the US border. .
These were implemented in response to “extraordinary threats raised by illegal aliens and drugs” that the Trump administration said they had met across the border.
