Illinois

CLTV: “The company says it’s moving its operations to Mexico to counteract the effects of metal tariffs imposed by the Trump administration.”

Chicago Tribune: Chicago-area manufacturer to lay off 150 people, move operations to Mexico, to avoid tariffs on Chinese metal

A manufacturer of storage safes is closing its two Chicago-area factories and moving operations to Mexico, in part because of the Trump administration’s tariffs on metal from China.

Stack-On Products plans to lay off 128 people at its facility in north suburban Wauconda and 25 people at its McHenry plant when it closes both facilities Oct. 12, said Al Fletcher, human resources director for Alpha Guardian, the Las Vegas-based parent company.

“The operation is really not profitable,” Fletcher said. He said the decision to relocate operations to Juarez, Mexico, was made about two months ago when President Donald Trump announced tariffs on numerous goods and materials from China as well as other countries, to reduce what the president has called an unfair trade deficit.

Read the full story here.

WFLD: “The trade war with China could make it a lean year for Illinois pork farmers.”

Illinois

Chicago Tribune: Layoffs from Trump tariffs are piling up. So are calls for more bailouts.

Illinois, Indiana

Jane Hardy, the chief executive of a company that makes lawn-care equipment, says she had to lay off 75 employees this summer because of President Donald Trump‘s trade war. As she fights to keep her southern Indiana business going, Hardy is one of several manufacturers warning the White House that, unless they see relief from the tariffs soon, job losses will mount and factory closures are likely.

Trump has repeatedly said he would protect American farmers in the trade war, last week setting aside $12 billion to help them, but he is facing pressure to extend aid to other industries if the tariffs remain in place or get extended to more products.

Extending those bailouts would be an expensive proposition. The U.S. Chamber of Commerce on Monday estimated the total price tag could hit $39 billion if Trump compensated the losses across all industries. It would take $7.6 billion to help automobile and parts manufacturers alone, the Chamber said, calling it a “slippery slope” for Trump to determine who gets help and who doesn’t. The Chamber has been a vocal critic of the tariffs.

Read the full story here.

Herald-Whig: Farmers concerned about trade war, prefer markets to support payments

Illinois

When asked about the $12 billion in aid offered to U.S. farmers last week, Adams County Farm Bureau President Rick Edwards didn’t hesitate.

“Farmers want trade, not aid,” he said.

“Farmers would prefer not to be subsidized. They would rather the market provide them an opportunity to sell and make a little bit of profit.”

Read the full story here.

Herald-Whig: Corn, soybean export outlook uncertain

Illinois

Escalating trade issues between the U.S. and many of its trading partners continue to affect the outlook in both corn and soybean markets.

Drastic price declines since Memorial Day show the impact of trade uncertainty and yield potential.

“The prospect of large yields combined with trade issues set the baseline for determining export potential and price formation in both corn and soybean markets moving forward,” University of Illinois agricultural economist Todd Hubbs said.

Read the full story here.

Creighton University economist Ernie Goss says the new tariffs are hurting grain prices, which were already weak.

The overall economic index for the region declined to 53.8 in July from June’s 56.1.

Read the full story here.