TARIFFS BETWEEN THE USA AND CHINA ARE AFFECTING ALL OF OUR BUSINESSES
“We’ve got to let everything settle as my business continues to absorb a lot of the additional costs that come from paying tariffs on imported items for our clients, and we’re not alone in this regard.”
The ongoing trade war between the U.S. and China has seen a number of rounds of tariffs imposed by both countries. For example, in May 2019, the U.S. started imposing a 25% tax on imported goods from China on items such as furniture and lighting products. New tariffs could take effect in the coming months, but the situation has been very fluid and unclear.
For our industry, tariffs have had an impact but we can’t do anything right now.
We’ve got to let everything settle as my business continues to absorb a lot of the additional costs that come from paying tariffs on imported items for our clients, and we’re not alone in this regard.
Many companies have global supply chains with important items coming from China, and even some local, U.S-based manufacturers have to deal with these tariffs because they import certain components to aid their overall production.
However, because the situation keeps evolving rapidly, we don’t want to make knee-jerk decisions like changing our pricing or supply chain practices.
We just need to sit back, let things happen and from there we’ll re-evaluate and discuss with our partners and clients.
Tariff wars continue between the United States and China.
