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ISM Manufacturing Business Survey Committee chair Tim Fiore joins Catalysts to discuss the impact of tariffs on the manufacturing sector, noting that the recent delay of President Donald Trump's planned tariffs on Mexico has been welcomed by many in the sector.
Fiore believes that the tariff delay is "really good news," adding that tariffs "[clog] up the supply chain ... [add] cost, and it takes money out of consumers' pockets."
He criticizes the idea of tariffing US products that cross back from Canada and Mexico, saying it could discourage manufacturers from buying US goods. "You're incentivizing Canadian manufacturers ... to not buy US products, so it doesn't make a ton of sense," Fiore explains.
Fiore also notes ongoing concerns with China, including trade imbalances and intellectual property issues, and says that the threat of tariffs on China is "not a negotiating tactic." He argues that the tariff imposition on North American partners could erode the competitive advantage of US manufacturers.
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This post was written by Josh Lynch