Tri W-G in Valley City, N.D., has been creating high-quality medical devices locally since 1967, but the company is seeing its cost of business dramatically increase as President Trump’s trade war drags on. Many of products that Tri W-G manufactures use steel as one of their main components, but due to the tariffs imposed on steel the price to make their devices has risen 40 percent on average this year alone.
Such a rapid increase cannot be passed on to the consumer, so Tri W-G is forced to absorb the cost and see it’s profits shrink. As a small business, the trade war has put additional strain on managing costs while preventing the company from expanding or hiring new employees.
We have heard, for good reason, a lot about the negative effects of the tariffs from farmers and agriculture producers. But we should also recognize the manufacturing businesses, like Tri W-G, are being hurt by these misguided trade policies as well.
Read the letter here.