Investments

Trump tariffs live: UK’s FTSE 100 has biggest daily fall since pandemic


Little sense of panic in US Rust Belt over Trump tariffspublished at 17:23 British Summer Time

Mike Wendling
Reporting from Delta, Ohio

A long store stocked with brightly coloured sweets, a woman with grey hair behind a counter looks out over the shop.
Image caption,

Mary Miller says she welcomes tariffs if it brings businesses to the US

With the markets plunging you might think that panic has spread to the Rust Belt – the vast interior region of the US where heavy industry and agriculture drive the economy.

But, in this village in the north-west corner of Ohio, many people I’m speaking to are relaxed about tariffs, if not downright positive about Donald Trump’s plan.

“If tariffs bring companies and business back to hard-working American people like the ones who live here, it’s worth it,” says Mary Miller, manager of the Delta Candy Emporium smack in the middle of Main Street.

Delta is home to several steel businesses including one, North Star Bluescope, which has largely backed the tariff plan.

Developments in Washington and on Wall Street seem pretty remote to the people I’ve met here.

“Nobody’s frantic. We’re not going to lose any sleep over it,” says Gene Burkholder, who works for an agricultural supply business.

If prices go up, “it might be short term pain for long-term gain,” he tells me. As for a falling stock market, “maybe it’s a good time to buy some shares while they’re cheap”.

While common in Delta, these sentiments are not universal across this region – there are already reports of car makers mothballing factories nearby, as others increase production or offer customer discounts.

The ultimate impact of this new trade war is likely to be uneven and uncertain, but there’s little sense of panic here in north-west Ohio.



Source link

Leave a Reply