Michigan just can’t seem to catch a break lately.
On top of the news of six factories closing statewide, now there are even more losses incoming.
Marshall Excelsior has announced plans to close three facilities by next March, with dozens of layoffs planned.
As if that wasn’t bad enough, Howard Miller – the famed clock maker with a 100-year history – has announced that it’s going to wind up operations next year and close down.
That affects two plants in Michigan (Traverse City and Zeeland), plus North Carolina, too.
And unlike Marshall Excelsior, Howard Miller pulled no punches – claiming that the housing market was to blame…and tariffs, too.
That shouldn’t be a shock to anyone – tariffs on inputs represent a big inflationary threat that the Fed has aired concerns about for months now.
And let’s face it – tariffs from the USA often breed retaliatory tariffs in foreign markets, driving down investment and trade across the board.
At a time of global competition and high interest rates, companies need every dime they can get – and unfortunately, tariffs raise prices and reduce consumer spending.
As for the impacted workers, I hope the next chapter is kinder to you than this one has been. You deserved better.
Readers, where are you seeing the impact of tariffs and plant closings? Drop a comment and let us know!
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