Another company goes under thanks to tariffs

The on-going trade war and tariffs imposed by President Donald Trump‘s US administration has claimed another business. High-end case manufacturer CaseLabs and their parent company have now permanently shut down. According to a statement on their website, tariffs have played “a major role raising prices by almost 80%”. This obviously makes it very difficult for them to do any business, especially when they manufacture and ship large steel cases.


The American owned and operated company only had about 20 employees, but it had been around for 47 years. Until the con artist's tariffs.

So much winning.

https://www.dailykos.com/stories/1787584

https://www.eteknix.com/high-end-case-manufacturer-caselabs-closes-permanently/

https://www.pcgamer.com/caselabs-announces-it-has-been-forced-into-bankruptcy-and-liquidation/

someoneyouknow said:

The on-going trade war and tariffs imposed by President Donald Trump‘s US administration has claimed another business. High-end case manufacturer CaseLabs and their parent company have now permanently shut down. According to a statement on their website, tariffs have played “a major role raising prices by almost 80%”. This obviously makes it very difficult for them to do any business, especially when they manufacture and ship large steel cases.

"We have been forced into bankruptcy and liquidation," CaseLabs said in a statement. "The tariffs have played a major role raising prices by almost 80 percent (partly due to associated shortages), which cut deeply into our margins. The default of a large account added greatly to the problem... We reached out for a possible deal that would allow us to continue on and persevere through these difficult times, but in the end, it didn’t happen."​

The American owned and operated company only had about 20 employees, but it had been around for 47 years. Until the con artist's tariffs.

So much winning.

https://www.dailykos.com/stories/1787584

https://www.eteknix.com/high-end-case-manufacturer-caselabs-closes-permanently/

https://www.pcgamer.com/caselabs-announces-it-has-been-forced-into-bankruptcy-and-liquidation/

Click to expand...

I didnt read up on Caselabs, but the tariffs kind of just started....if they were so fragile, it was inevitable they wouldn't make it anyway.....

That said, either China blinks first and this is over, or the pain gets really bad...talk about breaking eggs to make an omelette.

Also, what other companies have gone bankrupt because of the tariffs??

You really think China is going to blink? Really? REALLY? A, they own the U.S. financially. B., they are a totalitarian government. The government will just keeping holding business up there as long as is needed. They have the financing--which takes us back to A. It also takes us back to REALLY?

Beco said:

Also, what other companies have gone bankrupt because of the tariffs??

Click to expand...

Element Electronics in South Carolina. 126 people losing their jobs because of tariffs:

http://forum.literotica.com/showthread.php?t=1483390

The largest nail manufacturer in the country has laid off 12% of its workforce, cut hours for everyone else, and is still on the brink of extinction:


https://money.cnn.com/2018/06/26/news/companies/steel-tariffs-job-losses/index.html

Boat builders are getting slammed by tariffs. They have to contend with layoffs in the next two months while losing millions of dollars of overseas business because of increased costs.

https://abcnews.go.com/US/wireStory/american-boat-makers-feel-crunch-trump-tariffs-57032380

Moog Music, maker of synthesizers, has said they could move their manufacturing overseas and/or layoff people due to tariffs, just like Harley Davidson and BMW have done.

https://www.businessinsider.com/trump-china-tariff-moog-move-harley-davidson2018-7

Solar installer companies are shutting operations and laying off people, not to mention stopping billions of dollars in new investments:

https://www.nbcnews.com/news/us-news/trump-s-solar-tariff-darkens-outlook-installers-n854931

http://thehill.com/policy/energy-environment/391145-25-billion-in-solar-projects-canceled-or-frozen-after-trump-solar

A steel plant in my state could lay off up to 1,200 people and shut operations if people won't pay an additional 25% cost for their products:

https://www.reuters.com/article/us-usa-trade-steel-jobs/trump-steel-tariffs-may-leave-these-u-s-steelworkers-jobless-idUSKCN1GL2V9


Here's a nice list of companies who are laying off people, not hiring people, and stopping investments due to the tariffs:

https://www.fastcompany.com/90180122/the-u-s-job-losses-from-trumps-tariffs-are-starting-to-pile-up


Now, I could go on, but you'll find some excuse to ignore the facts.

Trump favours the non-competitive over the competitive.