Tariffs, millions in extra costs, Iran war: Trump’s policies hammer US firms

Doug Rende, CEO of Shapes Unlimited, an aluminum product manufacturer in Ohio, is struggling with significant cost increases due to President Donald Trump's tariffs and the ongoing Iran war. The tariffs have added millions of dollars annually to Rende’s costs. Additionally, the conflict with Iran has further inflated shipping expenses. As midterm elections approach, many US manufacturers are feeling the strain from Trump's trade policies, which include tariffs on aluminum, steel, and automobiles, affecting both domestic producers and foreign competitors entering the US market. Some companies have benefited from these measures by gaining an edge over international rivals, but others like Shapes Unlimited face escalating costs and ongoing uncertainty. Rende expressed frustration, noting a perceived lack of trust in both the administration and Congress’s ability to check executive power.