More rough news out of Michigan, as if the state needed anymore.
After a string of factory closures, many directly linked to tariffs…
And with the national economy rapidly declining…
Unfortunately, another plant has just been forced to close, at the cost of 75 jobs.
More specifically, CNC Logistics just closed its plant in Walker, Michigan. CNC is a logistics partner for Amazon.
There’s real logic to all of these factory closures, although that is of course cold comfort to the 75 hardworking Michiganders who now have to find a new job in what looks like an increasingly tough economy.
In the wake of the trade war, lots of international partners have initiated boycotts of US goods (especially food and beverage items).
Responding to the lower international demand, US food companies have been ramping down production and laying off workers to stay afloat.
The combination of unemployment for many Americans and many more Americans fearing an economic recession due to this downturn has led to a decline in domestic demand, too.
This has of course resulted in still more factory closures – threatening a spiral that could further harm the already fragile national economy.
At this point, the impacts have spread beyond food producers and up and down the whole supply chain – to food packaging, and ultimately even to logistics and delivery companies like CNC.
Unfortunately, the pain is unlikely to stop here.
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