SOUTH CAROLINA: Tariffs To Shutter Television Plant

CNBC reports:

A South Carolina television maker says it’s laying off 126 workers because of President Donald Trump’s tariffs on imports from China.

Element TV Company said in a letter to state employment officials Monday that workers will be let go Oct. 5, leaving a skeleton crew of eight employees to watch the Fairfield County plant in hopes it can reopen in three to six months.

Element says the tariffs are hitting key components it uses to assemble its U.S.-made televisions. The Trump administration imposed a 25 percent import tax that included Chinese components for TVs in July.

(Tipped by JMG reader John)