Title: The Impact of Tariffs on American Manufacturing: A Case Study of Independent Can Company
In recent years, tariffs have become an increasingly contentious issue in global trade negotiations. One company that has felt the brunt of these policies is Maryland-based Independent Can Company. Founded in 1929, this family business specializes in producing packaging for various products such as Wegmans' brand of Virginia peanuts and Santa Claus tins filled with chocolates or popcorn. However, since President Trump imposed a 25% duty on steel imports back in March 2018, the company has had to raise its prices twice this year alone.
The CEO of Independent Can Company, Rick Huether, shares the administration's goal of revitalizing American industry but believes that these tariffs are making it harder for his business to achieve its objectives. As a result, he has never voted for President Trump due to his communication style and erratic trade policies which have caused significant challenges for his operations.
The historical context behind this issue is crucial in understanding the current situation faced by Independent Can Company. Over the years, many American industries have shifted their production overseas to take advantage of cheaper labor costs and materials. This trend has led to a decline in domestic manufacturing jobs and an increase in imports from countries like China and Mexico. In response, President Trump imposed tariffs on steel and aluminum imports with the aim of protecting domestic producers and encouraging companies to bring their operations back home.
However, as seen in the case of Independent Can Company, these policies may not always achieve their intended goals. The unpredictability surrounding future tariff changes makes it difficult for small businesses like this one to plan ahead effectively. Moreover, while some American manufacturers might benefit from increased demand due to higher prices on imported goods, others could face severe consequences if they rely heavily on foreign-made materials or components – such as the steel used by Independent Can Company.
In conclusion, the story of Independent Can Company serves as a cautionary tale about the potential pitfalls associated with tariffs and protectionist trade policies. While these measures may be well-intentioned in terms of promoting domestic industry growth, they can also have unforeseen consequences for businesses like this one that are caught in the crossfire. As such, it is essential to consider all aspects of any proposed policy changes before implementing them, especially when dealing with complex global trade issues.
Source: [Original Article](https://www.nbcnews.com/business/economy/trump-tariffs-food-costs-independent-can-company-profile-rcna218035) #kicking
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