Economists and industry leaders predicted price increases and potential jobs losses after the Trump administration imposed tariffs on steel and aluminum. What may have seemed like rhetoric is now reality.
The sneaky brilliance of the tariffs is that benefits are concentrated to a small, politically connected, and very vocal few, while costs for American consumers are widely dispersed.
That fact skews the narrative, but meanwhile, scores of American businesses are suffering the consequences.
The House Ways and Means Committee in April held a hearing on the effects of tariffs. Among those testifying at that hearing was Kevin Kennedy, the president of Kennedy Fabricating.
Kennedy Fabricating is a company that uses steel and, according to its website, is “the leading custom steel fabricator serving the [telecommunications] industry in the southern U.S. and is a preferred vendor with numerous national cell tower owners, operators, and general contractors.”
In his testimony, Kennedy spoke about how the family-owned business survived