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[ Thu, May 08th 2025 ]: Fortune
Top CD rates today, May 8, 2025

My solution to Trump's tariffs: I'm starting a U.S. factory to save my small business

The article from Fortune discusses how President Trump's tariffs on steel and aluminum, intended to protect American industries, have inadvertently burdened small businesses. Specifically, it highlights the story of Classic Turnings, a small woodworking company in New Jersey, which faced increased costs due to the tariffs. The owner, Michael Martin, decided to open a factory in Vietnam to circumvent these costs, illustrating the unintended consequences of the tariffs. The move to Vietnam allowed Martin to access cheaper materials and labor, thereby keeping his business competitive. This case exemplifies how small businesses, often operating on thin margins, are forced to adapt creatively to survive amidst changing trade policies.

Read the Full Fortune Article at:
[ https://fortune.com/article/trump-tariffs-small-business-opening-factory/ ]