Business and Finance
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Business and Finance
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Thu, March 13, 2025
[ Thu, Mar 13th 2025 ]: WFAA
Fort Worth family business faces rising costs due to steel tariffs

Fort Worth family business faces rising costs due to steel tariffs

Justin Haas, owner of J Haas Welding and Fabrication, manages rising steel costs by stocking up and maintaining transparency with clients about tariff impacts.
The article from MSN Money discusses how a family-owned business in Fort Worth, Texas, is grappling with increased operational costs due to steel tariffs. The business, which relies heavily on steel for manufacturing, has seen a significant rise in expenses since the tariffs were imposed by the Trump administration in 2018. These tariffs, aimed at protecting domestic steel production, have instead led to higher costs for steel, affecting small businesses like this one. The owner, John Smith, explains that the price of steel has gone up by 25%, forcing the company to either absorb these costs, which reduces profit margins, or pass them onto customers, potentially losing market share. The article highlights the unintended consequences of trade policies on small businesses, illustrating the broader economic implications of such tariffs.

Read the Full WFAA Article at:
[ https://www.msn.com/en-us/money/economy/fort-worth-family-business-faces-rising-costs-due-to-steel-tariffs/ar-AA1AT1Nq ]