Top Business Trends||Latest Business News Headline Today

US manufacturing plant blames closure on Trump’s tariffs

US manufacturing plant blames closure on Trump’s tariffs

A manufacturing company said Tuesday that it will close a plant in South Carolina due to the tariffs imposed by President Trump, a report said.
TV-maker Element Electronics has laid off 126 workers and closed its plant in economically devastated Fairfield County, according to The State newspaper.
In a letter obtained by The State, the company said “the layoff and closure is a result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including the key television components used in our assembly operations.”
Element said it hoped to reopen at some point in the future but “cannot predict this with any certainty at this time.”
The State said automakers in South Carolina have also been hit hard by the tariffs.
Volvo said it may backtrack on a plan to hire 4,000 employees for a new plant in the state.
BMW recently told Commerce Secretary Wilbur Ross that tariffs could jeopardize 45,000 jobs in South Carolina.
Fairfield County has seen many businesses close their doors in recent months — including a textile mill and a Walmart.
“When you think you’ve reached rock bottom, to get kicked in the gut like this, you didn’t think anything more could happen,” South Carolina state Sen. Mike Fanning told the paper.

Related posts

Sen. Warren isn’t finished with ex-Wells Fargo CEO

VA

Energy, consumer shares lift S&P 500 to slight gain

VA

Wolff: Why we hold onto Trump as an “businessman”

VA

Leave a Comment