Much of the media coverage around President Donald Trump’s aggressive tariff policy has had a pessimistic tone. Despite the stock market continuing to hit record highs and the Fed (potentially) on the verge of cutting interest rates, there remains concern over the prices of imports, particularly of raw goods.
But Southwire, one of the largest manufacturers of wires and cables in North America, is more than pleased with the current administration’s handling of trade policy, praising the U.S. Department of Commerce, Trump, and U.S. Rep. Brian Jack for supporting an industry that is often at odds with foreign manufacturers pushing cheaper aluminum and copper products.
Southwire, based in Carrollton, is an $8.4 billion company with factories spread throughout the Southeast – not only in Georgia but Alabama, Indiana, and Kentucky. To build wire, it imports large quantities of raw copper, much from South American countries like Chile, home to major mining operations. So when the Trump Administration announced a 50% tariff on copper last month, there was cause for concern in the Southwire C-suite.
But thanks to Jack and his close ties to the administration, an exemption was carved out from the deal, only applying the tariff to manufactured products, meaning American companies can continue to import raw copper without additional taxes. That marked a major win for Southwire and similar domestic companies – foreign rivals will face stiff taxes when exporting their products into the U.S., while American wiring companies will be able to continue to manufacture wire on the cheap. It also marks another victory for Jack, who has already come up big for companies in his home district in his short time in office.
“This is a great moment for American manufacturing,” said Southwire President and CEO Rich Stinson. “As a company, we are aligned with the administration’s interests to support American manufacturing and American jobs, and we continue to have conversations to make sure any tariffs support these interests.”
“We want to thank President Trump and his trade staff, and Rep. Brian Jack for their support in implementing copper and aluminum policies that support Southwire and other U.S. manufacturers.”
