In recent weeks there has been much talk about President Trump putting tariffs on a wide range of products. Initially, there are two industries that will be greatly impacted: steel and aluminum.
Inflation could soon be hitting raw materials which will impact packaging, transportation, cargo, the supply chain, automotive OE supply chain, and general manufacturing. Rising prices will greatly impact Japanese automakers, but on the home front, small and mid-size manufacturing companies may see the biggest challenges moving forward, as they have less room in their budget for losses.
Consumers are likely to resist the cost increases that companies will be charging. Many millennials who haven’t seen increases like this may been surprised by how quickly things are changing. This type of tidal wave can disrupt all aspects of business and at each level of the supply chain. These changes need to be addressed with small and mid-size businesses before the impact is too great to bounce back from.
As a leader in custom manufacturing for polymers, rubber, and molding, Universal Polymer thinks small and mid-size manufacturing and mom and pop shops need to be prepared themselves for the changing trade climate. Finding ways to counteract the tariffs is imperative to stay alive in today’s market as other countries fight back against these policies.
Universal Polymer & Rubber is a leading manufacturer of rubber extrusions, plastic extrusions and rubber moldings including compression moldings, transfer moldings, and injection moldings. To stay up to date on issues affecting manufacturing and to learn more about us, we invite you to read our blog, follow us on Twitter, connect with us on LinkedIn, and like us on Facebook. To learn more about how we can help you with the right product for your project, we invite you to contact us today.