America's biggest RV manufacturer warns tariffs are already raising costs, shares plunge

[workinclasszero]

"We are experiencing inflationary price increases in certain raw material and commodity based components due in large part to the headwinds created by the announcement and implementation of the steel and aluminum tariffs and other regulatory actions, as well as higher warranty costs," says Thor Industries CEO Bob Martin.

Fred Imbert Published 4 Hours Ago

Shares of Thor Industries, the largest manufacturer of recreational vehicles (RVs), dropped more than 8.5 percent in the premarket Thursday after the company raised concerns about the steel and aluminum tariffs implemented by the Trump administration.

Bob Martin, the company's CEO, said in a statement Wednesday that while labor costs during the fiscal third quarter moderated, "we are experiencing inflationary price increases in certain raw material and commodity based components due in large part to the headwinds created by the announcement and implementation of the steel and aluminum tariffs and other regulatory actions, as well as higher warranty costs."

President Donald Trump unveiled a 25 percent charge on steel imports and a 10 percent tariff on aluminum in March. Last week, the U.S. slapped those tariffs on Mexico, the European Union and Canada, three key trade partners that had been previously exempt.

The move has left investors on edge as fears that full-blown trade war between the U.S. and its trade partners could lie ahead.

https://www.cnbc.com/2018/06/07/americas-biggest-rv-manufacturer-warns-tariffs-are-already-raising-costs-shares-plunge.html

[mr_lebowski]

1. I suppose Trump thought the minute he announced tariffs the hard hats

would all go back on, the thermos' would be filled with coffee, and the former aluminum/steel workers would all trudge down to their long shuttered dilapidated mills, fire up the rusted 1980's-era machines, smokestacks would start belching, and they'd just start spitting out beautiful, cheap US metals in no time!

And all the US companies who build stuff would buy from them, and everything would be fixed, and all would chant 'All Hail the Brilliant Chief!'

It's just nobody before him could have ever thought of HIS genius solution to the problem, you see?

[SWBTATTReg]

2. Another nail in the so called trump economy...before too long, there's going to be ...

too many nails hammered in, all contributing to hurting the US Economy in multiple ways, some ways not yet ID'ed yet. Rump and his motor mouth doesn't run the economy, but it sure is ruining it.

[kimbutgar]

4. Let's hope the economy crashes in October a repeat of 2006 and 2008

And his cult members stay home and we crush the rethugs. I know we can’t change their minds but they can become demoralized by their idiot president hurting them with his stupid policies.

[workinclasszero]

7. Yep

The tariffs aren't even in effect yet but the bad results are. Just like I read that hogs in Iowa have lost value already just because Mexico put them on their tariff list.

Trump is going to destroy his faithful GOP base with these tariffs. Oh well then his pals in Big Ag can move in and by up their family farms for pennies at auction.

SUCKERS!

[Wellstone ruled]

3. Here is a statement that

our Friends that own a major RV dealership made,Each time a new Oil Well is Drilled in North Dakota or Montana,I sell one of those half million dollar Thor Coaches. And he said the same for his Dealership on the Canadian Border,the Canuks pay cash on their way south for the winter.

[gibraltar72]

5. Ask a fluffer

what industries are suddenly going to reopen and get a blank stare.

[superpatriotman]

6. Why do I feel that parking lot was loaded with trump bumper stickers?

In 2016?