Southeastern Missouri is already seeing serious repercussions from President Trump’s steel tariffs, and the region could soon lose 500 jobs because of them.
Missourinet’s Alisa Nelson reports that the tariffs are pricing Mid Continent Nail Corporation in Poplar Bluff out of business, and the company could be forced to close as soon as Labor Day. Mid Continent Nail Corporation is the last major American nail manufacturer, and is one of the largest employers in Butler County.
Missouri Senator Claire McCaskill highlighted the impact of President Trump’s tariffs on Mid Continent Nail Corporation on Wednesday during a hearing with U.S. Commerce Secretary Wilbur Ross. She said that Mid Continent Nail Corporation has lost nearly half of their business in one month alone due to price drops caused by the tariff and noted, “The customers can easily source nails manufactured in other countries.”
McCaskill also railed against the bureaucratic red tape that will likely prevent Mid Content Nail Corporation from getting the relief it would need to stay in business.
McCaskill said, “In a chaotic and frankly incompetent manner, you’re picking winners and losers on a very technical basis, according to all the reporting we have, without a great deal of training. The regulatory burden is so extreme on small businesses. Many of these companies are filing dozens of waivers based on having to file a different one for every slightly different product. You are requiring that these waivers be filed every year.”
Lawmakers on both sides of the aisle have slammed the tariffs for their harmful effects on American companies, farms, and ranches. While both Senators McCaskill and Blunt have repeatedly expressed their concern over the tariffs, McCaskill’s opponent Josh Hawley continues to support President Trump on the issue.