Hellwig Suspension Products warns of increased pricing due to metal market speculation and threat of tariffs
By Paul Myers @PaulM_SGN
VISALIA – Tariffs have dominated the news cycle over the last two weeks, and discussion over consequences has started to hit a little closer to home. Hellwig Suspension Products in Visalia has been watching the upward trend of imported steel prices since March and has now decided to get out ahead of the news to warn customers that their prices may rise.
According to a Hellwig press release, prices began to “skyrocket” on American Steel immediately after steel and aluminum tariffs were announced in early March. The situation only grew direr when the White House extended tariffs to Canada, Mexico and the European Union on June 1. And since last weekend’s Group of Seven (G-7) summit, where the seven largest industrialized democracies convene to discuss global economic governance and security, the likelihood of troubling counter tariffs from affected countries is presumed to rise. Unfortunately, manufacturers dealing in steel, like Hellwig Suspension Products, are already bracing for the pricing impact.
“People in Washington and on the news talk about tariffs like they are a negotiating tactic on a board game, disconnected from the real world, but tariffs have real consequences,” White said.
She went on to say via her Youtube video the company would rather not raise prices, but in the best interest of the company they would. The company did not note what percentage the prices would rise.
Hellwig Suspension Products has been located in Visalia since 1960, but was established in 1940. The company ships sway bars all over the world for various types of use. Some of their largest customers are Freight Liner, UPS, FedEx, Summit Racing and Oshkosh Defense.