Economy
PMA Members See Impact from Tariffs
Written by Sandy Williams
April 30, 2018
Metalforming manufacturers are expecting steady business conditions during the next three months, according to the April 2018 Precision Metalforming Association (PMA) Business Conditions Report. PMA members, however, are seeing negative impacts from the Section 232 aluminum and steel tariffs.
Orders are expected to remain steady in the next few months. Manufacturers said daily shipping levels rose slightly in April.
Only 2 percent of metalforming companies reported workers on short time or layoff, down from 3 percent in March and 6 percent in April 2017.
“PMA is beginning to receive reports from its members of negative impacts from the Section 232 steel and aluminum tariffs, including price spikes and longer lead times,” said PMA President Roy Hardy. “It’s important to note that these tariffs impact domestic and imported steel and aluminum products that could disadvantage PMA members when competing against overseas companies. For this reason, PMA has joined other steel- and aluminum-using industry groups in asking President Trump to terminate these tariffs as soon as possible.”
April’s PMA report was based on a sampling of 123 metalforming companies in the U.S. and Canada.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
US sets Section 232 tariffs on trucks and buses
Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.
AMU: Consumer auto delinquencies: Warning sign for consumer health?
The Consumer Federation of America estimates rising total auto debt at a staggering $1.66 trillion, along with increasing repossessions and a sharp increase in delinquencies.
Beige Book: Regional market growth remains mostly flat
Economic growth in some US regions in September was offset by challenges in others, causing the market to appear largely unchanged overall, according to the Federal Reserve’s latest Beige Book report.
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.