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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.

Be smart: 21,000 petitions have flooded the U.S. Commerce Department asking to continue importing metals on a duty-free basis. However, only metal products that are unavailable from U.S. producers are eligible for the waivers, reports the Washington Post.

The impact
  • The largest nail manufacturer in the U.S., Mid-Continent Nail in Poplar Bluff, Missouri, laid off 60 of its 500 employees in June, per CNN Money. The company blamed the 25% tariff on imported steel.
  • Whisky distillers are seeing canceled orders, lower profits, and more layoffs, reports CBS News.
  • Pork producers in the U.S. count on China and Mexico for its largest exports. "We're in a very uncertain period, and uncertainty is not good for investment," Jim Monroe, of the National Pork Producers Council told local CBS station KCCI.
  • Wholesale cheese and butter prices dipped in the last few weeks with tariffs as the main concern. In 2017, Wisconsin lost 500 dairy farms, and about 150 farms have stopped milk production so far this year. The number of milk-cow herds is down 20% from five years ago, per local NBC station WGRZ.
  • Harley Davidson also announced this week its moving some of its production out of the U.S. to soften the blow on EU tariffs.

Go deeper:

Go deeper

Senate confirms retired Gen. Lloyd Austin as defense secretary

Photo: Greg Nash-Pool/Getty Images

The Senate voted 93-2 on Friday to confirm retired Gen. Lloyd Austin as secretary of defense. Sens. Mike Lee (R-Utah) and Josh Hawley (R-Mo.) were the sole "no" votes.

Why it matters: Austin is the first Black American to lead the Pentagon and President Biden's second Cabinet nominee to be confirmed.

House will transmit article of impeachment to Senate on Monday, Schumer says

Photo: Drew Angerer/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) announced that the House will deliver the article of impeachment against former President Trump for "incitement of insurrection" on Monday.

Why it matters: The Senate is required to begin the impeachment trial at 1pm the day after the article is transmitted.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Private equity bets on delayed tax reform in Biden administration

Illustration: Brendan Lynch/Axios

In normal times, private equity would be nervous about Democratic Party control of both the White House and Congress. But in pandemic-consumed 2021, the industry seems sanguine.

Driving the news: Industry executives and lobbyists paid very close attention to Treasury Secretary nominee Janet Yellen's confirmation hearings this week, and came away convinced that tax reform isn't on the near-term agenda.

You’ve caught up. Now what?

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