Spring and Wire Product Manufacturers NAICS 3326

May 18, 2025 - US-China Tariff Reset

• The United States and China have agreed to reduce and reset the tariff rates on imports from each other, the American Wire Products Association reports. According to a White House Fact Sheet dated May 12, the two countries each reduced their reciprocal and retaliatory tariff rates to a baseline tariff of 10%. The new lower rate took effect on May 14 and remains in effect for 90 days. President Trump reversed course by agreeing to scrap the 145% “Liberation Day” tariff he imposed on Chinese goods on April 2. However, US tariffs on Chinese imports – including the 20% special or fentanyl tariff, Section 232 tariffs on steel, aluminum, and automobiles and parts, and any antidumping and countervailing duties – remain in effect for a total tariff of 30% on Chinese goods. China ranks as the second largest importer of spring and wire products to the US behind Mexico.
• US manufacturers have much to lose if a trade war erupts between the US and its largest trading partner Mexico, The New York Times reports. During his campaign, President-elect Donald Trump vowed to slap 25% tariffs (or higher) on all goods from Mexico unless it stopped the flow of migrants and drugs to the US. While Mexico depends heavily on trade with the US – exporting some 80% of its goods to America – it accounted for nearly 16% of overall US exports in 2022, according to the Office of the US Trade Representative. Tariffs on Mexico and China, another Trump target, would have widespread ramifications for manufacturers, making it more expensive to produce goods that use foreign materials and components. And if other countries respond with retaliatory tariffs, it could also make it more expensive for manufacturers to export goods to foreign markets, according to Manufacturing Dive.

• Shop floor injuries needn’t be serious to be costly. In its 2024 Injury Impact Report, the insurer The Travelers Companies found the most common workplace accidents accounted for the majority of claim costs. The most frequent causes of injury identified in the report included overexertion (29% of claims analyzed); slips, trips, and falls (23%); being struck by an object (12%). Those injuries were also the top drivers of severe claims, defined as $250,000 or more. Slips, trips, and falls, which include falls from height, topped that list. Injuries related to overexertion can result in extended absences with injuries like dislocations having the highest number of average lost-time days at 142 days, followed by fractures (92 days), and inflammation (85 days). Improving shop floor ergonomics, eliminating trip/fall hazards, and material handling mishaps are three areas metal fabricators can focus on to reduce injuries and time lost.
• Employment by spring and wire product manufacturers fell 2.9% in March compared to a year ago, while average wages at fabricated metal manufacturers rose 4.2% year over year in April to a new high of $27.12 per hour, according to the latest US Bureau of Statistics data. Despite declining sales by the fabricated metal products industry, after-tax profits jumped 39.4% in the fourth quarter versus Q4 2024 but fell by 15.2% from Q3, Census Bureau data shows. Looking ahead, sales for the US spring and wire product manufacturers industry are forecast to grow at a 3.65% compounded annual rate from 2025 to 2029, slower than the growth of the overall economy, according to the latest forecast by the Interindustry Economic Research Fund.