Sabrina Siddiqui
đ€ SpeakerAppearances Over Time
Podcast Appearances
But in its filing documents, Steinway said tariffs, including retaliatory ones, could slow their production of instruments and, quote, harm our business, reputation, and relationships with our customers.
It also identified China as a growing market, thanks to consumers increasing discretionary spending and government support for music and the arts.
China's gain may be Eastlake's loss, but in under two hours, you can drive to a factory, a much bigger one, that says it's winning as a result of President Trump's trade policy.
At Whirlpool's Washing Machine Factory in Clyde, Ohio, they take safety pretty seriously.
This plant is as big as 30 football fields put together.
At full tilt, it can pump out 22,000 washing machines a day.
On the day I visited last month, Whirlpool announced a new production facility, its sixth in the state of Ohio, that in the next two years will create between 100 and 150 new jobs.
That's roughly as many as will be lost at Conselmer in Eastlake.
The way Whirlpool sees it, the Trump administration's tariffs are leveling the playing field.
The company's CEO, Mark Bitzer, brought up the phrase five times in my sit-down with him.
In other words, China subsidizes its steel, which makes it artificially cheaper.
Taxing it through tariffs makes U.S.-made steel more competitive by comparison.
And steel is a big deal for Whirlpool.
Bitzer says it makes up half the weight of a washing machine.
In recent years, 96% of the steel Whirlpool uses is made in the U.S.,
So they're not paying tariffs on that.
But that metal is more expensive than what they would get from China.
Last year, Trump doubled the tariffs on steel from 25 to 50 percent.
Whirlpool's U.S.
competitors now have to pay more for foreign steel.