Trump-imposed tariffs could affect small businesses to shipyard
Hampton Sheet Metal Inc. is tucked away on a side road off Jefferson Avenue, and its 20 employees welcome business from large corporations or the backyard chef with a broken metal grill.
But their small-business charm offers no protection from global economic forces.
After President Trump announced plans to impose tariffs on imported steel and aluminum, Vice President Linda Block was told that a quoted price for aluminum was good until the end of the day. If she planned to purchase supplies over extended period, she was advised to allow for a 20- to 25-percent price increase not that it would happen, but you never know.
Theyre hedging their bets already, she said Thursday. With the volatility in the market, theyre just covering themselves.
Jonathon Gruenke / Daily Press
Jason Wright works on welding an elevator cab at Hampton Sheet Metal in Newport News Thursday March 8, 2018. President Trump's move to impose tariffs on imported steel and aluminum could affect local businesses.
Jason Wright works on welding an elevator cab at Hampton Sheet Metal in Newport News Thursday March 8, 2018. President Trump's move to impose tariffs on imported steel and aluminum could affect local businesses. (Jonathon Gruenke / Daily Press)
The mood is brighter for members of the United Steelworkers, the Pittsburgh-based labor union that represents thousands of skilled trades workers at Newport News Shipbuilding, a division of Huntington Ingalls Industries.
USW International President Leo W. Gerard says t....