Conway-based manufacturer Tokusen USA set to close, expected 250 job loss

CONWAY, Ark. – A Conway manufacturer with approximately 250 workers has announced it is shutting down.

Tokusen USA advised the Arkansas Division of Workforce Services that it would be closing in mid-to-late March. The company produced steel cord for tires. The company cited aluminum and steel tariffs coupled with “workforce instability and inflationary conditions” as the factors leading to the shut-down decision.

The company outlined the business environment that led to its closure decision.

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The 25% tariff on the imported steel used to make the cords was put in place in March 2018 by President Donald Trump. In citing the tariff, company officials also noted the forthcoming closing of a New York tire plant and the 2023 closing of an Oklahoma tire plant as additional factors in the decision.

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https://www.kark.com/news/business/conway-based-manufacturer-tokusen-usa-set-to-close-expected-250-job-loss/