ILMA Compoundings - May 2019 - 22
Trade Issues, Tariffs Create
Concerns for Manufacturers
- By Mindy Long -
I
t has been more than a year since President Donald Trump
set out to revamp global trade deals and created a series
of tariffs on goods, which the White House hoped would
shrink the U.S. trade deficit. China has been hit the hardest
with U.S. tariffs, and the Chinese government established tariffs of its own in response. Negotiations remain underway, but
people within the lubricant industry say that the uncertainty
surrounding the trade situation makes it difficult to move
forward and has changed the way they operate.
"Having this issue resolved and back to the status quo
would be ideal," said Mike Damiani, CEO of Radco
Industries Inc., adding that even just knowing a direction of
where things are going would be helpful. "We're all in a state
of limbo right now, asking if this is going to end and when
22
MAY 2019
| COMPOUNDINGS | ILMA.ORG
it is going to end. Once a decision is made, businesses can
move forward because at least we know the rules."
Damiani said changes in Chinese tariffs brought several
changes for the company, including a rush on freight
brokers and Radco's logistics team to review tariff codes and
ensure all were categorized correctly. "With the new tariffs,
all the import government functions have been revisiting
that also. In some cases for Radco, they have come back and
said we've been classifying our imports under the wrong
tariff codes," he said.
Radco Industries has hired outside counsel to file protests against the government-mandated and stated tariff
codes and filed appeals. "We've gotten into very descriptive
molecular chemistry explanations on why the product fits
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ILMA Compoundings - May 2019
Table of Contents for the Digital Edition of ILMA Compoundings - May 2019
LETTER FROM THE CEO
INSIDE ILMA
WHAT’S COMING UP
INDUSTRY RUNDOWN
TRADE ISSUES, TARIFFS CREATE CONCERNS FOR MANUFACTURERS
EMBRACING THE RAINBOW
THE FATE OF THE FAMILY TREE
BUSINESS HUB
COUNSEL COMPOUND
WASHINGTON LANDSCAPE
IN NETWORK
ILMA Compoundings - May 2019 - Cover1
ILMA Compoundings - May 2019 - Cover2
ILMA Compoundings - May 2019 - 1
ILMA Compoundings - May 2019 - 2
ILMA Compoundings - May 2019 - LETTER FROM THE CEO
ILMA Compoundings - May 2019 - INSIDE ILMA
ILMA Compoundings - May 2019 - 5
ILMA Compoundings - May 2019 - 6
ILMA Compoundings - May 2019 - 7
ILMA Compoundings - May 2019 - 8
ILMA Compoundings - May 2019 - 9
ILMA Compoundings - May 2019 - WHAT’S COMING UP
ILMA Compoundings - May 2019 - 11
ILMA Compoundings - May 2019 - INDUSTRY RUNDOWN
ILMA Compoundings - May 2019 - 13
ILMA Compoundings - May 2019 - 14
ILMA Compoundings - May 2019 - 15
ILMA Compoundings - May 2019 - 16
ILMA Compoundings - May 2019 - 17
ILMA Compoundings - May 2019 - 18
ILMA Compoundings - May 2019 - 19
ILMA Compoundings - May 2019 - 20
ILMA Compoundings - May 2019 - 21
ILMA Compoundings - May 2019 - TRADE ISSUES, TARIFFS CREATE CONCERNS FOR MANUFACTURERS
ILMA Compoundings - May 2019 - 23
ILMA Compoundings - May 2019 - 24
ILMA Compoundings - May 2019 - 25
ILMA Compoundings - May 2019 - 26
ILMA Compoundings - May 2019 - 27
ILMA Compoundings - May 2019 - EMBRACING THE RAINBOW
ILMA Compoundings - May 2019 - 29
ILMA Compoundings - May 2019 - 30
ILMA Compoundings - May 2019 - 31
ILMA Compoundings - May 2019 - 32
ILMA Compoundings - May 2019 - 33
ILMA Compoundings - May 2019 - THE FATE OF THE FAMILY TREE
ILMA Compoundings - May 2019 - 35
ILMA Compoundings - May 2019 - 36
ILMA Compoundings - May 2019 - 37
ILMA Compoundings - May 2019 - BUSINESS HUB
ILMA Compoundings - May 2019 - 39
ILMA Compoundings - May 2019 - COUNSEL COMPOUND
ILMA Compoundings - May 2019 - 41
ILMA Compoundings - May 2019 - 42
ILMA Compoundings - May 2019 - 43
ILMA Compoundings - May 2019 - WASHINGTON LANDSCAPE
ILMA Compoundings - May 2019 - 45
ILMA Compoundings - May 2019 - IN NETWORK
ILMA Compoundings - May 2019 - 47
ILMA Compoundings - May 2019 - 48
ILMA Compoundings - May 2019 - 49
ILMA Compoundings - May 2019 - 50
ILMA Compoundings - May 2019 - 51
ILMA Compoundings - May 2019 - 52
ILMA Compoundings - May 2019 - Cover3
ILMA Compoundings - May 2019 - Cover4
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