Look Who it Was Random video

Retaliatory tariffs strip US scrap metal industry profits

1,938 views · Published 26 September 2018 · 2:55 · Indexed 21 September 2026

Channel: CGTN · 2018 · News & Politics

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The phrase "one man's trash is another man's treasure" could not be more apt for Michigan based waste recycling company Padnos.

The company has also enjoyed a long history of trade with China. Last year, the company sent 4,000 containers of scrap to China, by far its largest customer.

But then came the announcement in April that China had imposed retaliatory tariffs on US aluminum waste and scrap. By August, the tariff net widened to include all metal scrap commodities. “We're kind of the innocent bystanders walking along here and then all of a sudden it's like a brick falling off the ledge here and hits on the head,” says Jeff Padnos, the Chairman of the company.

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