On Aug. 7, the Trump administration said it is moving forward with a 25 percent tariff on $16 billion in Chinese goods, set to take effect later this month, according to USA Today.
The tariffs are intended to improve the U.S. market by getting other countries to lower their tariffs on American goods. While some see America's strong economy as a way to leverage better trade deals, some argue that companies will face repercussions if tensions persist.
Here are four companies that laid off workers as a direct result of the tariffs, according to the report:
1. Mid-Continent Nail, America's largest nail-maker, based in Poplar Bluff, Mo., let go 60 workers. Sales tumbled 70 percent after President Donald Trump imposed a 25 percent tariff on Mexico and Canada steel. The company is concerned its 500-member workforce will be eliminated by Labor Day.
2. Cape Girardeau, Mo.-based SEMO Box, a packaging company, said it will lay off four temporary workers due to a slowdown from Mid-Continent Nail.
3. Norway's REC Silicon, a supplier of silicon materials used for solar panels, laid off about 100 employees at its Moses Lake, Wash.-based plant. China has imposed tariffs on polysilicon, which REC Silicon needs for production, according to USA Today.
4. Winnsboro, S.C.-based television maker Element Electronics notified the state it expects to shut down its plant and lay off 126 people, according to CNN Money. Element Electronics blamed the potential layoffs on Chinese tariffs imposed on parts used to make its televisions.