Steel, Tariffs & Time: Navigating America's Economic Future with Steven Ford

In this timely and deeply insightful episode, Joe Sampson welcomes Steven Ford, retired CCO of Lapham Hickey and current M&A consultant, to discuss the wide-reaching implications of the latest U.S. tariffs. Recorded just a day after new trade measures were announced, the conversation dissects the historical roots of steel tariffs, China’s currency manipulation, and how global trade impacts U.S. manufacturing. Ford offers a rare perspective drawn from decades in the steel and fabrication industry, including his work with the military and family-owned businesses.They pivot to the current landscape of manufacturing investment, the resurgence of U.S.-based production, and the ripple effect of major players like Hyundai establishing American steel operations. Steven also shares wisdom on selling family businesses and the critical importance of planning, succession, and valuing time over dollars.📌 Key Takeaways

Tariffs aren’t just taxes: They’re strategic tools for balancing unfair trade and currency manipulation—especially with China.Currency manipulation by China remains a core issue, with long-standing effects on U.S. manufacturing competitiveness.U.S. steel history: From near-collapse in the 1990s to forced consolidation in the early 2000s under Bush’s administration.National security isn’t just military—it’s manufacturing: Steel, pharmaceuticals, and more are foundational to sovereignty.Tariffs spark domestic opportunity: Foreign companies like Hyundai are now building U.S. plants to avoid penalties.Business succession is emotional and strategic: Family businesses must prepare years in advance to sell successfully.Time is a non-renewable asset: Ford urges owners to value time over squeezing for top dollar.

Quotes

"People don't understand currency. China was making 38 cents on every U.S. dollar before they did anything." – Steven Ford"Tariffs are a theory—to level the playing field, not a guarantee." – Steven Ford"Manufacturing in the U.S. is hot. Investors are flooding the market like I’ve never seen." – Steven Ford"Time is something you can’t replace—don't wait too long to make big moves." – Steven Ford"Selling a business isn’t like selling a house. Preparation takes years, not months." – Steven Ford

Join Joe Sampson and guests as we explore the intersection of agriculture, business and innovation. With nearly two decades of expertise in agricultural equipment and scaling businesses, this podcast delivers actionable insights, inspiring stories, and strategic advice to help manufacturers and professionals grow their ventures. Whether you're an industry veteran or just starting out, join us every week to cultivate ideas, expand your knowledge, and germinate your path to success.

• No. of episodes: 24
• Latest episode: 2025-07-09
• Business

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