Page 14 - Lighting Magazine May 2018

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LIGHTING INDUSTRY REACTS TO TARIFFS
President Donald Trump’s threats of steep tari s on steel and aluminum imports are now a reality.
White House o cials say placing a 25-percent levy on steel and 10-percent charge on aluminum is a simple way to restore American industry to former glory.
Adam Pollock, President of Iowa-based lighting manufacturer Fire Farm Lighting, believes the tari s are positioned to hurt more U.S. workers than help them.
“Trump hopes that if metals from other countries become more expensive due to the new taxes, more businesses will turn to American steel and aluminum makers to ll demand. Theoretically, that would breathe new life into industries that
have been struggling for years,” Pollock explains. “I get it — the goal is to protect
domestic industry. But will these tari s actually help American manufacturers? Not really.”
“We’re already seeing a rise in material costs and a steady increase in interest rates with no change in overseas compe- tition,” he adds. “What concerns me the most, however, are long-term e ects. I am worried about seeing our economy fall back into Recession.”
“ALA opposes any action that could ad- versely a ect the market for residential lighting products,” says Michael Weems, ALA’s VP/Government Engagement. “The greatest threat of harm to the industry could come about because of the fallout on products coming from overseas.”
Others in the lighting industry, how- ever, believe the new taxes will have li le
negative e ect.
“I expect somewhere around three
to ve percent of a price increase for consumers,” says Brad Smith, CEO of Pa.-based manufacturer ELK Group International. A former investor and self-proclaimed Wall Street junkie, Smith has been closely monitoring news outlets for updates.
“I’m following, but not with a lot of concern. The stock market is doing well, in ation is down, steel is generally inex- pensive to begin with,” Smith explains. “The industry has room to pass that tari along. No one likes to see prices increase, but we’re all in this together. So, if we’re all ge ing hit, then we should all subsi- dize. A tari like this has the potential to help level the playing eld.”
Stuart Yadgaroff
Once in a while you an encounter an individual who is as unique as they come, and incredibly special. I am con dent that those of you who know Stuart would completely agree.
Stuart is a salesman extraordinaire, with a take charge attitude that often leaves you wondering “who’s the customer?” He has a heart of gold, and truly would give the shirt off his back to anyone in need. He is as kind as he is opinionated, has tireless energy, and time for everyone. To know “Stewie” is to love him.
We are so proud of Stuart’s accomplishments and we feel privileged to
work with him. Congratulations Stuart, -success didn’t happen overnight,
your dedication and hard work have paid off and we could not be happier for you.
The Access Lighting Team
www.accesslighting.com