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Steinway Thrives Amid Tariffs, Faces Craftsman Shortage

10/19/2025

22 5 Full Breakdown

Summary

Story summary

Steinway & Sons, led by CEO Ben Steiner, remains thriving in Astoria, Queens, by focusing on premium craftsmanship and pricing grand pianos at $90,000–$200,000.
Tariffs imposed by President Donald Trump aimed at reshoring jobs have not significantly affected the company due to its domestic sourcing.
Concerns persist about Sitka spruce availability and about maintaining a skilled workforce as experienced craftsmen retire.

History

Historical Context

Founded in 1853 by Heinrich Engelhard Steinweg, Steinway & Sons became synonymous with premium pianos, dominating over 80% of the high-end market. Despite facing challenges from digital music in the 1980s and a significant sales drop post-2008, the company adapted by innovating, such as introducing the Spirio digital player piano in 2015, highlighting the ongoing need for craftsmanship and workforce development.

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Story summary

Steinway & Sons, led by CEO Ben Steiner, remains thriving in Astoria, Queens, by focusing on premium craftsmanship and pricing grand pianos at $90,000–$200,000.
Tariffs imposed by President Donald Trump aimed at reshoring jobs have not significantly affected the company due to its domestic sourcing.
Concerns persist about Sitka spruce availability and about maintaining a skilled workforce as experienced craftsmen retire.

1 / 2