THE TTALK QUOTES 

On Global Trade & Investment
Published By:
The Global Business Dialogue, Inc.
Washington, DC   Tel: 202-463-5074
Email: Comments@gbdinc.org
 
No. 6 of 2019
THURSDAY, JANUARY 17, 2019

Click HERE for yesterday's Brexit quote from Jacob Rees-Mogg.
TARIFFS: AN AMERICAN CASUALTY 

"On June 1, President Trump placed 25% tariffs on certain kinds of steel, including the steel wire we use to manufacture our nails.  Our costs shot up overnight, making it impossible for us to remain competitive."
 
Chris Pratt 
November 15, 2018 
CONTEXT
Chris Pratt is the operations manager for America's largest manufacturer of nails, Mid-Continent Steel and Wire in Poplar Bluff, Missouri.  Today's quote is from an article of his that the U.S. Chamber of Commerce published last November.  
 
Mid-Continent buys its steel from Mexico, and, according to one press report, might be forced to relocate to Mexico if it cannot get relief from the steel and aluminum tariffs that are currently being applied to both Mexico and Canada.  Those tariffs are part of a global trade action taken by the Trump administration last spring in the name of national security.  
COMMENT
In one sense, the conundrum faced by Mid-Continent is emblematic of the downside to any trade case - be it anti-dumping, anti-subsidy, safeguard, or national security.  The effort to shield one industry damages others.  What sets these particular tariffs apart is that they will inevitably complicate the politics of NAFTA's would-be replacement, the United States-Mexico-Canada Agreement or USMCA, which President Trump, then-President Peña Nieto of Mexico and Prime Minister Justin Trudeau of Canada signed in Buenos Aires on November 30. 
RELATED EVENT -- JANUARY 24, 2018
The issues Mr. Pratt discussed in his article will be the topic of GBD's next event:

 
And indeed, Mr. Pratt himself will be one of the speakers.  Click the title link above for the announcement for this event, which includes the full list of speakers and registration options.   
SOURCES & LINKS
 A Nail Manufacturer At Risk is a link to Chris Pratt's article of November 15.  This was the source for today's featured quote.   
 
Manufacturer Clings to Life is a CNN Business report on Mid-Continent's dilemma and includes the reference to a possible relocation to Mexico.  

TO GET THE TTALK QUOTES IN YOUR INBOX

Or Other GBD Notices, click below.
©2019 The Global Business Dialogue, Inc.
1717 Pennsylvania Ave., NW, Suite 1025
Washington, DC   20006
Tel: (202) 463-5074
R. K. Morris, Editor
Joanne Thornton, Associate Editor