03/28/2024
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By Charlotte Smith

A tariff by definition is a tax or duty to be paid on a particular class of imports or exports. President Donald Trump has applied tariffs on a list of Chinese imports, which took effect on Thursday, August 22nd. In exchange, China has applied tariffs on U.S. goods, according to Business Insider.

There are several Bladen County industries using materials listed as being in the trade war. Some local business owners are already reporting price increases from their vendors. These price increases will ultimately be passed on to the consumers.

Ron Taylor, owner of Taylor Manufacturing, Inc., the producer of the Taylor Waterstove and a variety of farm equipment, reported a large increase in the price of steel.

Taylor said, “We bought steel three weeks ago and it was 36 percent higher than it was two or three months ago. I don’t know if people are price gouging or not. I don’t know exactly if it is tariffs or not tariffs. It has blown my mind and it is hard for me to tell how it is going to affect sales. It can’t be good with the price increases.”

He continued saying, “The wood stove, like we build, is all steel and labor. We will have to see if the consumer will pay the price.”

Daine Smith, with Cape Fear Heating & Cooling, LLC, explained his industry’s situation, “Usually there is an annual price increase in January on equipment and materials, but, this year, we have had two additional price increases. In the last 75 days, prices have increased in range from 8 to 13 percent.”

Smith said, “On the record, in printed form, no one has said tariff, but, off the record, in conversations, everyone is saying the price increases are tariff-related. Our price increases began before the tariffs took affect leading me to believe it is somewhat politically motivated.”

William Thompson, who owns Thompson Small Engine and Thompson’s Automotive, said, “Right now, it hasn’t taken affect, but it will tomorrow on the 24th (of August). The price is going up 4 to 6 percent on the mowers themselves, but not on the parts yet.”

He added, “I haven’t seen the affects yet because I already have the stock. It may be a mess. I heard the school system needs mowers so this may affect our school system due to the price increases.”

Printing companies are reporting price increases, as well. Trey Melvin, with Bladen Office Supplies, said, “We have seen a price increase in the printing supplies twice already this year, but I’m not sure that the tariffs are the cause of the price increases.”

Some suggest price increases may be linked to political agendas, price gouging, or the tariffs themselves. Time will tell exactly what the affect will be on our economy from these price increases and the trade war.

The tariffs have been applied to Chinese goods included in the list below according to Business Insider:

Aircraft tires

Nuclear reactors

Boat motors

Aircraft engines and engine parts

Air and gas compressors, which are used in various goods like refrigerators

Industrial heating equipment

Scales, mostly for weighing large industrial equipment

Cranes and other “lifting equipment”

Bulldozers, backhoes, tampers, boring machines, and other large construction vehicles

Oil and gas drilling platform parts

Plows, mowers, combine harvester-threshers, and other large agricultural vehicles

Dairy milkers, chicken incubators, and other livestock equipment

Machinery for foods processing, including meat processing and fruit processing

Machinery for making paper cardboard and other paper products

Parts of printers and copy machines

Machinery for processing and molding metals or cement, and their parts

Machinery for making glass products, including lightbulbs

Machinery for making rubber or plastic goods

Ball bearings

DC and AC generators of various sizes and power levels

Electricity transformers

Industrial magnets

Lithium batteries and other batteries

Industrial ovens and furnaces

Radar and radio equipment

Parts for televisions, video-recording equipment, and similar video products

Electronic traffics signs

Electrical equipment such as resistors and circuit breakers

LEDs

Trains and rail parts

Large vehicles using both diesel and non-diesel fuel

Some cars and trucks, motorcycles, helicopters, airplanes, and spacecraft

Microscopes and telescopes

Lasers

Imaging and navigational equipment

Medical equipment such as X-rays and pacemakers

Scientific equipment such as pressure gauges and spectrometers

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