The new Trump administration’s talk of tariffs is causing a split among businesses across the country. Some are rushing to avoid potential import taxes, while others see tariffs as a way to protect against foreign competition. Here’s how three businesses are preparing for the impact of tariffs.
Mark McClelland, who runs Tower Extrusions in Texas, supports tariffs. His company manufactures aluminum products like bleacher seats and has faced increased competition from China in recent years. Now, other countries like Vietnam, Turkey, India, and Mexico are also flooding the market with aluminum products, threatening domestic manufacturers like McClelland. He hopes that President-elect Donald Trump’s proposed tariffs will level the playing field, even though they may increase his raw material costs.
On the other hand, Bobby Djavaheri, who owns Yedi Houseware Appliances in Los Angeles, is worried about the potential impact of tariffs on his imports from China. He fears that tariffs could significantly raise the prices of his products, hurting American consumers. Djavaheri is taking the threat of tariffs seriously and is trying to stockpile products before they take effect.
Peter Elitzer, who runs a chain of discount clothing stores, is also concerned about tariffs. He knows that even a small tariff could hurt his price-sensitive customers. Elitzer is hesitant to stock up on inventory ahead of potential tariffs, as he doesn’t want to be stuck with unsold items. If tariffs are imposed, he may be forced to raise prices, which could negatively affect his customers who are already cautious about spending money.
These businesses are all bracing for the impact of tariffs in their own ways, navigating the uncertain terrain of trade policy changes in the new administration.
Source link
/cdn.vox-cdn.com/uploads/chorus_asset/file/24016888/STK093_Google_01.jpg?w=75&resize=75,75&ssl=1 "ChromeOS Introduces Self-Reset Feature Without Data Loss")
