Association of Equipment Manufacturers (AEM) President Dennis Slater issued the following statement on new data that shows American businesses paid a record $6.8 billion in July due to Trump Administration tariffs. Extra import tariffs have now cost U.S. taxpayers $30 billion.
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Trade War, Bad Weather Negatively Impacts Deere Dealers
In the wake of a record-wet spring in the Midwest and the ongoing U.S. trade war with China, dealers of Deere agriculture equipment are reporting a significant decline in sales, according to a recent Reuters article. This is a worrying sign for Deere as its Agriculture & Turf segment accounts for the bulk of its sales. In May, the company slashed its full-year profit and sales…
Read MoreAEM Warns of Dire Consequences from Mexican Tariffs
President Trump said he plans to move forward with imposing tariffs on Mexican imports as part of his effort to stem the flow of migrants crossing the southern border, telling reporters at a news conference with British Prime Minister Theresa May that Republican senators would be “foolish” if they try to stop him.
Read MoreConstruction Spending Flat in April
The U.S. Census Bureau estimated that construction spending during April 2019 was at a seasonally adjusted annual rate of $1,298.5 billion, nearly the same as (±1.3%) the revised March estimate of $1,299.2 billion.
Read MoreAgreement Reached to Remove Steel, Aluminum Tariffs
On May 17, the United States, Canada and Mexico announced an agreement to remove tariffs on steel and aluminum imported from each of the countries. The move will lift the 25% steel and 10% aluminum tariffs the United States imposed nearly a year ago, which resulted in retaliatory measures from Canada and Mexico. Associated Equipment Distributors (AED) opposed the tariffs and frequently warned the…
Read MoreTariffs to Hurt Aggregates Equipment Manufacturers
Machinery used by aggregates operations is on a list of Chinese imports that will be subject to a 25 percent duty beginning July 6, according to the National Stone, Sand and Gravel Association (NSSGA). The United States Trade Representative (USTR) announced a list of Harmonized Tariff Schedule (HTS) codes that classified hundreds of goods subject to the increased tariff.
Read MoreConstruction Costs Surge in April on Proposed Tariffs
The cost of goods used in construction jumped in April at the fastest year-over-year rate since 2011, with ongoing increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data. Association…
Read MoreConstruction Costs Rise in February
Construction costs escalated in February, driven by price increases for a wide range of building materials including steel and aluminum, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials warned that newly imposed tariffs on those metals will create steeper increases that will squeeze budgets for infrastructure, school districts and commercial projects.
Read MoreIndustry Associations Blast Steel Tariffs
President Trump imposed tariffs on imported steel and aluminum in a move that has been criticized by manufacturing businesses, industry groups and many in Congress. The tariffs, designed to favor U.S. industries over their foreign competitors, contain an initial exemption for Canada and Mexico. The move is seen as a negotiating tactic as the administration seeks broader trade concessions from…
Read MoreAEM’s Slater: Steel Tariffs ‘Counterproductive’
President Donald Trump said his administration will impose tariffs on steel and aluminum imports. Trump said the United States will impose a 25 percent tariff on steel imports and 10 percent tariff on aluminum, capping a fierce, months-long internal debate that reportedly divided some of the president’s top advisers.
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