A nail manufacturer in the mid-west state of Missouri says it has lost 50% of its business in two weeks, thanks to the new tariffs on steel imports.
Mid Continent Nail Corporation imports steel wire from Mexico, so has seen prices surge to uncompetitive levels thanks to the 25% tariff on imports imposed by Trump earlier this year.
The company has already laid off 60 temporary staff, and could axe another 200 by the end of July unless it gets a tariff exemption, quickly.
According to local news outlet Missourinet, Mid Continent Nail Corporation produces half of the nails made in America, but has seen orders tumble as customers find cheaper products elsewhere.