The Daily Caught in the Middle of the Trade War
May 16, 2019
In this insightful discussion, business reporter Natalie Kitroeff interviews Iowa truck manufacturer Kevin Watje and Illinois farmer Eldon Gould. Watje reveals how tariffs have increased costs and complicated his business operations, while Gould shares the devastating effects on agriculture, particularly crop prices. The trio delves into the broader implications of the trade war, highlighting personal stories that illustrate the anxiety faced by American producers. Together, they explore the intricate relationship between trade policies and the American economy.
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Impact of Tariffs on Truck Manufacturing
- Kevin Watje, an Iowa truck manufacturer, uses Chinese components like hydraulic cylinders.
- Tariffs increased his product costs by 10%, impacting his already thin 20% margins.
Labor Shortage in Manufacturing
- Watje's company faces labor shortages, reflecting a broader trend.
- Younger generations show declining interest in factory and welding jobs, preferring college and tech careers.
Guest Worker Program Solution
- Watje supports a guest worker program instead of strict immigration policies.
- He believes this would address labor shortages and benefit both American businesses and workers' home countries.