A South Carolina consumer electronics manufacturer is closing a plant with 126 employees as the Trump administration’s trade policies force companies to compensate for higher supply costs.
Winnsboro, S.C.-based Element Electronics attributed its move to President Trump’s tariffs on Chinese imports, imposed earlier this year, according to The State newspaper. The company couldn’t immediately be reached for comment.
The White House has imposed 25 percent tariffs on $34 billion worth of Chinese goods so far and is considering levies of the same amount on another $200 billion in products, up from a previously announced 10 percent. China, in response, is considering duties on an additional $60 billion in U.S. goods.
Read the full story here.