Retaliatory tariffs strip US scrap metal industry profits

Global Business

The Padnos scrap yard in Michigan effortlessly dispatches truckloads of crushed cars and other metals using a trash compactor.

If was founded in 1905. Today, it employs some 600 people across 18 locations throughout Michigan and Indiana.

Last year, the company sent 4,000 containers of scrap to China by far its largest customer.

But then came the announcement in April that China had imposed retaliatory tariffs on U.S aluminum waste and scrap. By August, the tariff net widened to include ALL metal scrap commodities.

With the added tariffs, the price of U.S. scrap metal recycling is falling.

CGTN’s Dan Williams reports on some of their stories.