Dozens of retailers testified about how Trump’s trade war with China could impact them – here’s what they said

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The Trump administration has threatened to place tariffs on all Chinese products entering the country. In addition to a $200 billion round of duties that could be announced imminently, Trump last week said another $267 billion worth of imports could subsequently be targeted.

Hundreds of company and industry representatives testified before trade officials in Washington last month about how the next round of duties could affect them. The hearings lasted more than 45 hours, with witnesses allowed to speak for five minutes each. Here’s what some of those from the retail and distribution industries had to say, drawn from US Trade Representative transcripts.

SEE ALSO: Dozens of manufacturing companies testified about how Trump’s trade war with China could affect them – here’s what they said

Jo-Ann Stores

Hudson, Ohio

“The proposed tariffs would unintentionally amount to a Made in America tax on sewing and crafting projects completed by Americans. As a result there will be an incentive to move production and jobs away from the United States.” – Jill Soltau

Flying Circle

Boerne, Texas

“Looking closer at the proposed tariffs we already pay about a 17 percent import duty on most of our items. A 42 percent tax on our product would erase any profit margins and would be sustainable for a very short period before we would have to close.” – Jimmy Chittim

Inmotion

Blacksburg, Virginia

“In short, Inmotion would be severely harmed by additional duty on these items. A problem to which I see no viable business recourse. And their inclusion on this tariff list would likely have little impact on China.” – John Stemen

Micro Electronics

Hilliard, Ohio

“Given that the profit margins on these products are very slim, as well as the fact that we expect to see a steep drop in sales due to this action, Micro Center cannot sustain an additional ten percent tariff, let alone 25 percent.” – Richard Mershad

Lamplight Farms

Menominee Falls, Wisconsin

“We are glad that the U.S. Government is taking steps to position the United States as a global leader in cutting-edge 21st century technologies. … But we question in the strongest terms how a reduction on U.S. imports of Tiki torches and citronella candles can be a key part of that strategy.” – Mark Werner

Trayton America

High Point, North Carolina

“Moving production to a new country is not a viable option in the upholstery business. This would come at an extremely high cost that would require an enormous amount of capital and time. And our company would effectively have to shut down our entire operation for several years. Consequently, we would have to lay off employees and incur heavy losses.” – Larry Little

Richloom Fabrics Group

New York, New York

“We have already seen the beginning of a slowdown in this industry as a result of the first two rounds of tariffs.” – Michael Saivetz

Four Hands

Austin, Texas

“The economic impact of an additional 10 percent duty on our products would have an immediate impact on our business. … As an initial response, we would implement austerity programs that would freeze hiring and …read more

Source:: Business Insider – Finance

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