How new tariffs are affecting Midwestern companies

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Missouri companies and farmers are already seeing the effects of a recent meeting between President Trump and the leaders of neighboring countries.
 
A recent meeting between President Trump and the leaders of Mexico and Canada is already impacting the bottom line of at least one Joplin business, Boyd Metals, a steel distribution company. Company vice president and general manager Audie Dennis says a tariff imposed by Canadian Prime Minister Justin Trudeau on steel manufactured in his country doesn’t technically take effect until July 1st, but he says the actual impact took effect literally overnight.
 
“Anything that’s produced in Canada and crosses the border is subject to 25% tariff and you know that’s something we just have to take into consideration,” says Audie Dennis.
 
Industrial states in the Midwest, like Missouri will be hardest hit by those tariffs. But if you think the U.S. can reduce the impact of the tariff simply by boosting metal manufacturing in this country, think again.
 
While some types of metals, like this carbon steel are still produced in the midwest, Dennis says the majority of metals used in U.S. manufacturing come from outside the country. But the tariffs aren’t just on steel, they will affect the bottom line of farmers too, like Clint Wilkerson, who raises cattle on a farm in Jasper County, as well as other family members that grow row crops.
 
“I run beef cows and they’re talking about a 25% on beef as well I mean obviously hurt our income,” says Clint Wilkerson.

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