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The big picture: U.S. industries feel the heat of Trump's trade wars

Steel coils
Steel coils produced at the NLMK Indiana steel mill are prepared for shipping. Photo: Scott Olson/Getty Images

About 21,000 companies in the United States have filed for tariff exclusions claiming Trump’s trade war has caused layoffs and makes them at risk of folding completely, per CNN Money.

Why it matters: The initial purpose for Trump’s tariffs was to level the trade playing field with other countries, but American companies are also sharing the brunt of the measures and several are worried they won't be able to survive them.