Ryan condemns Trump’s tariffs
U.S. Rep. Tim Ryan of Howland, D-13th, condemned President Donald Trump’s decision to impose a 25 percent steel and 10 percent aluminum tariff on Mexico, Canada and the European Union, effective today.
“Of particular concern, we are punishing our friends in Canada and Europe who have similar – and in some cases, stronger – worker protections and environmental standards,” Ryan said in a statement. “Meanwhile, President Trump is more concerned about letting China off the hook than protecting American workers. This dangerous approach furthers the interests of Russia and China by weakening the friendships and alliances that helped us win World War II and the Cold War and propelled the United States to be the leader in the world for the last 75 years. ... This decision by President Trump is counterproductive to those of us working to increase good-paying U.S. manufacturing jobs and improve the economies of areas that have seen manufacturing decline.”
COMPASS receives $10,000 donation
Home Savings recently donated $10,000 to COMPASS Family & Community Services for the American Made Country Music Songwriter Series event that took place at the DeYor Performing Arts Center on May 18, according to a news release.
“Proceeds from this event will be utilized to support services for victims of domestic violence and their children at the Sojourner House Domestic Violence Program,” said Jennifer Gray of COMPASS. “Sojourner House Domestic Violence Program is a program of COMPASS. It is the comprehensive emergency domestic violence shelter in Mahoning County.”
Soybean group opposes tariffs
The Ohio Soybean Association on Thursday expressed concern over the Trump administration’s proposal to impose a 25 percent tariff on select Chinese imports.
The statement notes China’s proposal of a 25 percent retaliatory tariff on U.S. goods that would include soybeans.
The OSA cited an Ohio State University study suggesting the proposed tariffs could decrease a farm’s net work by an estimated 6 percent and annual net income by 59 percent over a six-year period.
“These studies illustrate the massive harm that these tariffs could impose on rural America,” said Allen Armstrong, OSA president and Clark County soybean farmer. “While there are legitimate trade issues with China, we cannot resolve them at the expense of our largest agricultural export – soybeans. This not only hurts farmers, it hurts all of Ohio.”
Sears to close 72 more stores
Sears Holdings announced Thursday it would close 72 stores in the near future.
The announcement followed the closure of other stores across the country, including plans to close the Sears in Southern Park Mall this summer.
Selected local stocks
Alcoa Inc., 48.12-0.42
Aqua America, .20 34.72-0.97
Chemical Bank, .2856.13-0.84
Community Health Sys, .214.08 -0.42
Cortland Bancorp, .1122.300.00
Farmers Nat., .0715.800.00
First Energy, .36 34.430.20
First Niles Financial, .059.500.00
FNB Corp., .1213.26-0.12
General Motors, .3842.764.93
General Electric, .1214.09-0.09
Huntington Bank, .11 14.880.02
JP Morgan Chase, .56107.02-1.33
Key Corp, .1119.45-0.20
Macy’s, .38 34.91-0.67
Parker Hannifin, .76170.87-4.33
Simon Prop. Grp., 2.88160.24-1.36
United Comm. Fin., .06 10.46-0.04
Selected prices from Thursday’s 4 p.m. close.