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Weekend Reads South Carolina manufacturer says it's closing plant over Trump tariffs

03:50  08 august  2018
03:50  08 august  2018 Source:   thehill.com

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Element Electronics, a consumer electronics company in South Carolina , says it will be closing its plant in Winnsboro due to tariffs imposed by President Trump . The company said in the letter that it hopes the closure will be temporary and added that it could reopen the plant in “three to six months

small towns in South Carolina are depressing places. The tariffs are the one thing I think that can lose Trump everything at the next election. Interesting that the impact here is not China' s reaction tariffs but the White House' s own tariffs .

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Element Electronics, a consumer electronics company in South Carolina, says it will be closing its plant in Winnsboro due to tariffs imposed by President Trump.

The State reported Tuesday that the company was one of the largest remaining employers in Fairfield County after the local Walmart, which used to be the largest grocery store in the county, closed its door two years ago.

The news also comes after plans were canceled to build two nuclear reactors in the area, terminating 5,000 construction jobs.

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South Carolina manufacturer says it ' s closing plant over Trump tariffs .

Today News - South Carolina manufacturer says its closing plant over Trump tariffs Element Electronics, a consumer electronics company in South Carolina

"When you think you've reached rock bottom, to get kicked in the gut like this, you didn't think anything more could happen," state Sen. Mike Fanning (D) said of Element's announcement to the local paper. "Within 365 days, you just get rocked to your core."

Workers on the assembly line replace the back covers of 32-inch television sets at Element Electronics in Winnsboro, South Carolina, U.S. on May 29, 2014. © REUTERS/Chris Keane/File Photo Workers on the assembly line replace the back covers of 32-inch television sets at Element Electronics in Winnsboro, South Carolina, U.S. on May 29, 2014.

Element said "the layoff and closure is a result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including the key television components used in our assembly operations in Winnsboro," in a letter to the state's Department of Employment and Workforce obtained by the local paper.

The company said in the letter that it hopes the closure will be temporary and added that it could reopen the plant in "three to six months, but we cannot predict this with any certainty at this time."

The company said it plans to start laying off workers in October, a move that will reportedly cost the county 126 jobs.

Quebec offers C$863 million in aid to lessen brunt of U.S. tariffs .
The Quebec government on Wednesday said it would spend C$863 million ($657 million) over five years to mitigate the impact of U.S. tariffs on companies and the Canadian province's agriculture sector.The plan would provide direct financial aid to some companies affected by the tariffs and would support investments to improve productivity, worker training and boost market diversification, Quebec's Liberal government said in a news release.

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