- 15th June 2019
- Posted by: Hakeem
- Categories: FOREX MARKET ANALYSIS, POLITICS
- “For years I have been hearing that manufacturing is lost in America,” says Sandra Payne, owner of Denver Concrete Vibrator in Colorado. “And yet there are thousands of manufacturing companies just like this one out there trying to make things domestically. I think it’s going to hurt us very badly.”
- U.S. small business advocates and owners such as Payne are increasingly pushing back on tariffs.
- The National Federation of Independent Business says about one-third of its membership has reported somewhat or significant negative impacts as a result of recent trade policy changes with Mexico, Canada or China.
Sandra Payne said she held out for as long as possible before raising her prices.
The owner of Denver Concrete Vibrator, which manufactures equipment that strengthens and settles concrete for infrastructure projects, said tariffs finally took a toll on her business. Raising prices modestly became necessary to remain competitive as her vendors, many of whom rely on imports from China, began charging more.
“We waited a long time to increase prices. We finally did a small increase recently,” said Payne, who has owned the Colorado business for nearly two decades. “But that still won’t cover what we expect in the coming months or years.”
Payne said she’s tried to source locally and domestically, but many vendors disappeared after the recession, making relying on imports more of a constant. While cutting her staff of eight, including Payne and her husband, has not been necessary as of yet, the future is uncertain.
As a U.S. manufacturer, Payne has a clear message: Tariffs are doing more harm than good.
“For years I have been hearing that manufacturing is lost in America,” Payne said. “And yet there are thousands of manufacturing companies just like this one out there trying to make things domestically. I think it’s going to hurt us very badly.”