Apr 12th

By recession, warning some applaud President Trump’s tariffs. The CEO of Marlin Steel in Baltimore, Maryland, says he’s thrilled with the tariffs his plant makes wire baskets and sheet metal for our industries, ranging from aerospace to food processing. Here’s what one factory worker of his told us. One of the products that we made was, our competition was from Canada and they were using Chinese steel.
And it’s become more profitable and it’s exciting. So very optimistic about it. Joining us now is the CEO of Marlin Steel, Drew Greenblatt, who joins us from the floor of his company. I drew, thank you so much for joining us. So you say you’re a big fan of the tariffs your company exports to dozens of countries, including China.
Chinese leaders now say they’re prepared for a full on trade war with the United States. If China stops buying Marlin Steel. How much of a hit will your business take? Or will the tariffs help you in other ways that make up for it? Tariffs are going to be very good for the American manufacturing worker. We’re very excited about this new leveling of the playing field right now when we export, for example this basket to Germany right here.
It’s a precision medical basket a medical device basket. When we shipped that to Germany, the German government taxes our our clients $128.95 per basket. If that. If a German competitor ships it to America, it’s $1.25 full basket. It is so unfair what’s happening to the American worker? They can’t compete when you have that kind of, level playing field.
We’re talking about an opportunity finally to create a lot of millions of American jobs. Middle class jobs. If we could get it fair, we’re not looking for something over the German factory workers or the British factory workers. The Chinese factory workers. We just want to be fair. If we’re fair, the American, technology, creativity, work ethic is going to just do extraordinary things, and we’re going to create millions of American jobs with this new paradigm.

It about it the auto. Oh, no no no. Oh. Whoa whoa whoa whoa. Holy, holy. Okay. You know, that can be the point. And what can I do to give you. Just after 10 a.m., a tweet went out saying that the president was considering a 90 day pause on tariffs for all countries except for China. Shortly after that tweet went out, we saw the S&P, the Dow and the Nasdaq all enter the green.
And there were cheers here on the floor of the New York Stock Exchange. But shortly after the white House came out and said that that was fake news, that the president is not considering a 90 day pause for all countries except China. And then you saw markets go back down into the red. This is just a classic case of what happens when there’s a rumor, an unfounded rumor, but just shows the desperation that investors have right now for some sense of an indication that this trade war may be pausing or there may be a de-escalation of this trade war.
But I was speaking to an investor earlier today who said that we could see this throughout the day. We could see little rallies as news started to trickle out about negotiations that may be happening between the United States and other countries. Now, that tweet about the 90 day pause is not true, but there are conversations going on with foreign countries and the United States about a de-escalation.
Investors, though, really looking for some solid, solid information from the white House, though, that tariff rates are going to be dropping, not holding steady, and certainly not escalations going forward.