A sudden tariff bill forced Robert Keeley of Keeley Electronics to cash in credit card reward points for payment, symbolizing the struggles of smaller U.S. businesses. Smaller manufacturers face significant challenges amid volatile trade policies, especially those with fewer than 100 employees, who lack financial cushioning. A group of guitar-pedal manufacturers, led by Julie Robbins from EarthQuaker Devices, is collaborating to find solutions and avoid layoffs. Despite high-level affirmations about reshoring, the reality is that some companies may consider moving production overseas to mitigate tariff pressures.
Robert Keeley, who runs Keeley Electronics in Oklahoma City, expressed his financial strain from tariffs, stating, "It's like a needle pin holding back a crack in the dam," emphasizing the pressure faced by small businesses.
Manufacturers with fewer than 100 employees account for 93% of U.S. industrial firms, often lacking the resources to handle steep tariff hikes or pivot production.
Julie Robbins, CEO of EarthQuaker Devices, highlights the need for collaboration among guitar-pedal makers to survive tough times while fearing that she may have to move production overseas.
Trump's comments at the NATO summit suggest tariffs are pushing some manufacturers to reshore production. However, small companies feel the adverse effects, with some considering overseas relocation instead.
Collection
[
|
...
]