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What a difference a few months makes. In our last update in March, we were just beginning to understand the immediate effects that this global pandemic was having on our economy and on our Manufacturing sector. Fast forward 90 days and the picture has evolved into one that is having and will have lasting effects on our nation’s health and on our manufacturing economy.
The events of 2020 have unfolded rapidly with attention quickly focused on the current global health crisis regarding the COVID-19 virus. As facts began to emerge in January as to global events that saw the unprecedented spread of the virus, it has quickly become evident that this is a situation that is having an immediate effect on the global and domestic economy.
The Sko-Die team is very thankful to our customers and to our suppliers for their support that we received throughout 2018. This year has seen continuing strength of our overall manufacturing sector. These conditions have translated into opportunities for us to grow our business with our valued customers and to advance new opportunities in the market.
The Sko-Die team is very thankful to our customers and to our suppliers for the support that we received throughout 2019. The past year has been, to say the least, an interesting year for the domestic manufacturing sector. For our part, we have experienced continuing strength of demand across most sectors that we serve. These conditions have translated into opportunities for us to continue to grow our business with our valued customers and to advance new opportunities in the market.
As you are aware, on March 8, 2018, the federal government announced that it is imposing a 25 percent tariff on steel and a 10 percent tariff on aluminum imports from all countries, except Canada and Mexico. Sko-Die understands there is a lot of confusion about how this will affect our company’s, and the broader industry’s supply chain. The new tariffs take effect at 12:01 a.m. EDT on March 23. They apply to goods that enter into the customs territory of the U.S. (any location where U.S. customs laws apply) or are withdrawn from a warehouse for consumption on or after that date.