The practical effects of the new U.S. trade policy are starting to emerge:
The country’s sole major producer of nails, based in Missouri, is paying more for raw materials due to new tariffs on steel and aluminum. It has lost “50 percent of its business in two weeks,” reports Alisa Nelson for Missourinet.
A Minnesota soybean farmer said “his farm value has lost around $250,000” in two weeks, according to CNN’s Dan Merica, after China targeted American soybeans in retaliation for those steel tariffs.
Harley-Davidson said it will start producing motorcycles outside the U.S. to avoid retaliatory tariffs from the EU, report the Washington Post’s David Lynch and Heather Long. The tariffs would add $2,200 to the average cost of each motorcycle.
One Wisconsin cheesemaker can no longer use the term “asiago” to describe its products for sale in Mexico, after the U.S. pulled out of trade talks that might defend those kind of brand terms. The company, Sartori, has resorted to branding its cheese with the money-losing name “Sartiago.” “The consumer doesn’t know what this is,” the company’s president told the New York Times’s Ana Swanson. “We can’t even put ‘used to be called asiago’ on the label.”
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