Producers of a range of items, including clothing, footwear, baby products, auto parts and hardware, say they will pass along the cost of the tariffs to their American customers.
“We’re set to raise prices,” Timothy Boyle, chief executive of Columbia Sportswear, said in an interview. “We’re buying stuff today for delivery next fall. So we’re just going to deal with it and we’ll just raise the prices. … It’s going to be very, very difficult to keep products affordable for Americans.*”*
Trump vows to impose the heaviest tariffs since the 1930s, including a 60 percent tax on products from China and a 10 to 20 percent fee on all other foreign goods. Doing so will encourage companies to produce inside the United States using American workers rather than buy from foreign suppliers, he has said.
1 comment
Across the United States, companies that rely on foreign suppliers are preparing to raise prices in response to the [massive import tariffs](https://www.washingtonpost.com/business/2024/10/16/trump-tariffs-impact-economy/?itid=lk_inline_manual_2) that former president Donald Trump promises if he wins the election Tuesday.
Producers of a range of items, including clothing, footwear, baby products, auto parts and hardware, say they will pass along the cost of the tariffs to their American customers.
The planned price increases next year would come as consumers are beginning to enjoy relief from the [highest inflation](https://www.washingtonpost.com/business/2024/08/21/inflation-harris-trump-prices/?itid=lk_inline_manual_5) in four decades and directly contradict Trump’s repeated assurances that foreigners will pay the tariff tab.
“We’re set to raise prices,” Timothy Boyle, chief executive of Columbia Sportswear, said in an interview. “We’re buying stuff today for delivery next fall. So we’re just going to deal with it and we’ll just raise the prices. … It’s going to be very, very difficult to keep products affordable for Americans.*”*
Trump vows to impose the heaviest tariffs since the 1930s, including a 60 percent tax on products from China and a 10 to 20 percent fee on all other foreign goods. Doing so will encourage companies to produce inside the United States using American workers rather than buy from foreign suppliers, he has said.
Read more here: [https://www.washingtonpost.com/business/2024/10/30/companies-tariffs-trump-prices/?utm_campaign=wp_main&utm_medium=social&utm_source=reddit.com](https://www.washingtonpost.com/business/2024/10/30/companies-tariffs-trump-prices/?utm_campaign=wp_main&utm_medium=social&utm_source=reddit.com)
Comments are closed.