Trump's trade wars sting US manufacturers ahead of midterms

Shapes Unlimited, a US aluminum product manufacturer in Ohio, is grappling with the economic impact of President Donald Trump's trade policies ahead of the midterms. CEO Doug Rende said the tariffs have increased his company's annual costs by millions of dollars. The Iran war has further complicated matters, making shipments even more expensive due to surcharges on containers.

Rende noted the uncertainty and lack of consumer tolerance for the added costs. This comes as Democrats hope to capitalize on discontent with Trump's trade policies, aiming to flip control of the Senate and House of Representatives in November. Other Ohio manufacturers such as Sam Miller, who makes kitchen and bathroom products, have also faced challenges.

While Miller received refunds after the Supreme Court struck down many of Trump's duties, his tariffs on imported materials from Asia and difficulties expanding into Canada due to trade tensions have strained his business. The deteriorating US-Canada trade ties have added to his woes. Guy Coviello, president of the Youngstown Warren Regional Chamber, expressed concerns over the trade policies, Iran war, and immigration, warning that these factors are negative for businesses overall.

Despite some firms benefiting from higher barriers faced by foreign competitors, the overall impact is predominantly negative, with some losing customers or having to downsize.