The Trade War Is Causing Wisconsin Lay Offs: ‘It’s Been Catastrophic’

by | Oct 22, 2018 | Headline News | 30 comments

(Photo Credit: Koji Sasahara/AP/dapd)

Tariffs imposed on goods by the European Union, and the Chinese and American governments on boats, cribs, bourbon, and more have put Wisconsin businesses between a rock and a hard place. The tariffs imposed are already damaging a bloated bubble economy and the hardships are just beginning.

“It’s been catastrophic,” said Rob Parmentier, who is the president and CEO of Marquis-Larson Boat Group, which builds Carver yachts in Pulaski, Wisconsin. According to USA Today, the first “hand grenade,” as Parmentier described it, tossed during the trade wars at him specifically, was a 25 percent tariff the European Union placed this year on boats built in the United States, along with scores of other products including Harley-Davidson motorcycles.

The next disaster was a 10 percent tariff slapped on boats shipped to Canada, along with price increases of up to 40 percent on a lot of boat building materials. This is causing skyrocketing prices, fewer sales, and will, in turn, result in a huge loss of jobs, something manufacturers warned about before the tariffs went into effect.

“We’ve had a lot of order cancellations. Canada and Europe have essentially stopped buying boats,” Parmentier said according to USA Today. “We’ve been absorbing some of the additional costs … hoping the tariffs will go away. But we can only do that for so long,” he said. The next step is layoffs.

And the tariffs aren’t going to only affect boats.  Ford Motor Company has already announced a loss of $1 billion thanks to the tariffs and says layoffs are all but imminent. Ford has announced that the company will lay off workers to cover the cost. The exact number of layoffs is not yet known, however, a recent report by Morgan Stanley estimates “a global headcount reduction of approximately 12 percent,” or 24,000 of Ford’s 202,000 workers worldwide. “Such a magnitude of reduction is not without precedent in the auto industry,” analysts wrote in the investment note. And if you believe this will only affect those workers in the industries hit hardest by the tariffs, think again. The cost of a car will go up about $7,000 because of companies being forced to comply with the trade war regulations and tariffs.

Stores such as The Dollar Tree have already felt the impact of the tariffs, and they are passing costs onto their customers. And those customers are particularly susceptible to higher costs, as most shoppers are lower or middle-income families. Customers are likely to see slightly less merchandise in stores, smaller packages at the same price for certain items and perhaps some higher prices at Family Dollar, said the company’s chief executive, Gary Philbin.

Businesses are running out of ways to cut costs and that will result in the loss of jobs.

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    Comments

    30 Comments

    1. Anonymous

      June 2019, collapse/depression. Keep stacking.

      • rellik

        Depression good.
        Inflation bad.

        • Anonymous

          No, rellick. Aka killer spelled backwards, a depression from hell is coming.
          You ain’t ready. I’m not ready. Very few are ready for this thing. Keep stacking anyways.

      • durangokidd

        Better to lose some boats sales to Canada and the EU than lose the TRADEWAR !!!

        It’s almost November. I suspect that boat sales slip at this time of year anyway. I mean really, how many Canucks are going to be boating on Lake Superior this winter ??? More Fake News. I call Bullshit.

        My advice: DIVERSIFY YOUR COMPANY, YOU FUCKING MORON !!! BUILD SNOWPLOWS !!! 🙂

        • Nailbanger

          Durango,,,
          Maybe those 7,000 migrants going to cross our border will be in the market for a boat,,,,,
          🤪

          • durangokidd

            Not likely, but with the cash Soros is passing out they can now afford an inner tube and 2×4 to cross the Rio Grande !!!

            It’s clearly an invasion. Shoot to kill wherever they make “Landfall” !!! 🙁

    2. Craig Mouldey

      Here comes economic catastrophe for the world. Trump has owned this economy and he will get full blame. Here comes the blue wave and there goes the country. And for icing on the cake, the psychopaths will likely scream it is all the fault of China and Russia and that is good enough reason to kick of a war of extermination.
      Now, back to my daily chores!

    3. Eisenkreutz

      We don’t fucking need goods from China. We need higher wages. Hail the trade war.

      Every single one of the muddies in that caravan will be admitted into the USA forever. Every single one. Tell me Im wrong. Baby Boomer pussies.

      • Nailbanger

        Nope,, your most likely right, plus they will all get an EBT card and housing voucher,,,,
        But most boomers i know including me could scrape you so hard your skin wouldnt grow back ya little lizard fuck

        • Anonymous

          you could give him a rough rub while you overlook poltics and wear your levi’s.

    4. PISSEDOFFINTEXAS

      My wife commented to me last week how items at our local “Dollar Tree” are significantly smaller…or same box size less quantity…a lot of air for $1 than just a few months ago…

      The mob of criminals and future/current MS-13 assholes bearing Honduran flags BETTER be stopped at the border. I pray our Gov. Abbott stops this invasion with TX National Guard if Washington doesn’t.

      America is being gutted like a hog…keep stackin’ @ packin’ friends!

    5. Jas

      People need to shut up, suck it up and do their part for the country. I hope they put up a military blockade at the border and stop everyone from entering this country. Let the fucking asylum seekers starve across the border in mexico.

      • repr sleepr

        Damn skippy! Let the adults and their litters die and replenish the dust in the desert.

        • Tommy

          Chupacabra food.

          • TharSheBlows

            Those Mexicans have been coming across the border via Tunnels. Then tunnel a half mile underground under the fence, then pop up in some basement of a KFC, head up the stairs, eat lunch then walk out of the KFC like nothing, laughing and head over to the Drivers license bureaus to pick up their credentials and voting card, then over to apply for their EBT Card. Then go work for cash on some construction crew, and double dip. make cash pay no taxes, and get all the benefits and even more than the regular American.

      • Kevin2

        Jas

        Use political martial arts on the globalists redirecting sympathy.

        First, this is all timed for the election so from that perspective take the stage show away from the liberal by “out- liberal” them.

        1. Send the National Guard to the border. Tell Mexico that the US is sending humanitarian aid, food, water, tents, rudimentary medical care across the border. If Mexico says your violating their sovereignty state, LIVES ARE AT STAKE; pound that message in, repeat it, repeat it, repeat it. Tell the press that the US is going to interview each family, “without separation”, to determine if they have true political asylum status (drag your feet on this). We need to ensure that no terrorists hide among them.

        2. Challenge the do-gooders in Hollywood to cough up some money matching Trumps generous personal donation. “Put up or shut up”. Challenge and embarrass the political left for “not caring”.

        3. Announce that the US will redirect the foreign aid given to the countries of origin to pay for this “Humanitarian Necessity” because its obvious that said nations are irresponsible in this allowing this crisis to occur.

        The above will defuse all of the talking points the “Progressives” are attempting to use.

        The illegal immigrants, like ants, will go to where the food and shelter is. Put this “care facility” (not detention camp) in an area where its most inhospitable just across the border on US side to dissuading crossing.

        • FreedonFighter

          My wife is from Guatemala but came here through the front door and is now a U.S. Citizen. I like her solution. Let them cross and take them all to a camp for processing. Feed them a healthy vegetarian diet but no beans, rice, or tortillas. I think you have to release in 3 weeks or so. Drag your feet on processing but take pictures, fingerprints etc. and at the end tell them they will be moved to another facility for processing and release. Then fly them into Nome Alaska and release them. Ever visited Nome in Nov? Ever tried to walk out of there?

    6. JRS

      How can they make the packages any smaller? You already need bookends to hold up their skinny boxes of cereal and they call an 8 ounce box “family size”. {snort}

      • Kevin2

        Smaller families I’m sure is the reason.

        GTFOOH

      • Nailbanger

        Hey, they never said what sorta family did they!

    7. WIprepped

      Mac, really!! You need to come to Wisconsin & check out the economy. Boat builders & farmers are feeling the tariffs a little but they’ve been rolling in cash the last bunch of years.
      There are job openings everywhere. We have a serious labor shortage. And it’s not all cheap labor. If you can pass a drug test any construction company associated with Fox Conn will pay you $40 an hour. Most fast food places will give you 12 to 15.

    8. Kevin2

      You can’t make an omelet without breaking a few eggs.

      Sometimes the cure inflicts some pain.

    9. Stuart

      “The tariffs imposed are already damaging a bloated bubble economy.”

      The tariffs are a controlled release to keep the bubble from popping.

    10. aljamo

      Mafia bankers leading Trump around by the nose. In fact the entire government is in on the swindle.

    11. tz

      Where were all the complaints about closed factories, the knock on closed small businesses, or even WalMart destroying main street then closing down because it wasn’t profitable enough when all that happened?

      When the “creative destruction” made you rich and these others poor you cheered. Now that it is affecting your Stock Portfolio you point to the poor people affected.

    12. NorseMan

      Uh, because of tariffs there will be more jobs inside the USA, and THOSE workers will be able to afford boats now, and there won’t be a tariff if you sell boats to these workers!

    13. Beaumont

      Are any of these businesses competitive, in a free market. Really?

    14. NorseMan

      Things are so tough in Wisconsin –

      Wisconsin’s unemployment rate notched an eighth straight month under 3 percent, more positive economic news for Gov. Scott Walker with the election just over two weeks away.

      The state Department of Workforce Development reported Thursday that Wisconsin’s unemployment rate was 3 percent in September, the same as in August.

    15. Jas

      On a brighter note, next year our taxes start going back up.

    16. CinniMinni

      Really??? You are telling me that the average “Canadian” and “European” are buying yachts? Please….. Oh, Found On Road Dead is “laying off?” Carmagandian have been hanging on by a thread. Why don’t they try making something that isn’t going to fall apart with cheap crap from china!!!! bahahaha Good bye, good riddance!

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