Tariffs are Bad for Business

Tariffs are Bad for Business

On August 14, 2018, Case Medical attended a consortium of NJ Manufacturers and a bipartisan legislative committee to discuss common issues facing our industry. Marcia Frieze, CEO Case Medical, joined a panel that focused on the new federal tariffs on aluminum and steel.

Manufacturing in New Jersey is a $45.9 billion industry that employs more than 258,000 workers. Tuesday’s hearing was convened to hear directly from New Jersey manufacturers about the impact that federal tariffs on aluminum and steel are having on their businesses.

“The tariffs for us have been a nightmare,” said Gary DuBoff, CEO of Arrow Fastner Company of Saddle Brook. DuBoff said the banded wire his company needs to manufacture staples is no longer made in the United States and the federal government has denied all six of his tariff exemption requests leading on an increase on his expenses. Read here.

The bipartisan legislative caucus, chaired by Sen. Vin Gopal, D-11, has been holding hearings throughout the state to hear directly from manufacturers about the challenges their businesses face in the global marketplace.

Beyond the increase in costs, the tariffs are also affecting the supply chain, the manufacturers said. The automotive and aircraft industries are hoarding existing supplies of aluminum and steel in the U.S., leaving smaller manufacturers scrambling to find the materials they need for their processes which leads to higher cost for the medical industry and escalates the already high cost of health care.