US manufacturing companies are under increasing financial pressure due to President Donald Trump's trade policies and the consequences of the war with Iran. The imposed tariffs increase companies' costs by millions of dollars a year, while rising transportation costs further complicate their operations, reports Agence France-Presse, quoted by the South China Morning Post.
Among those affected is Shapes Unlimited, a manufacturer of aluminum products in the US state of Ohio. Its CEO Doug Rende explains that the Trump administration's tariff policies have resulted in additional costs of millions of dollars a year. The war with Iran has complicated the situation by making supplies even more expensive.
“Frustrating“ is one of the words Rende uses to describe the situation. According to him, distrust is growing among business representatives not only in the presidential administration, but also in the way government institutions function, including the ability of Congress to limit executive power.
The Shapes Unlimited case reflects the difficulties faced by a number of American manufacturers. Companies must simultaneously cope with higher import costs, rising supply costs and continued uncertainty about future decisions in Washington.
Business dissatisfaction is growing on the eve of the midterm elections for the US Congress in November. The economic consequences of Trump's policies are becoming an important issue for manufacturers, who must plan their investments and operations in an unstable international environment.