Companies ready price hikes to offset Trump's global tariff plans
Source: washingtonpost
Across the United States, companies that rely on foreign suppliers are preparing to raise prices in response to the massive import tariffs 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 in four decades, and they directly contradict Trumps repeated assurances that foreigners will pay the tariff tab.
Were set to raise prices, Timothy Boyle, chief executive of Columbia Sportswear, said in an interview. Were buying stuff today for delivery next fall. So were just going to deal with it and well just raise the prices.
Its going to be very, very difficult to keep products affordable for Americans.
Trump vows to impose the heaviest tariffs since the 1930s,
Read more: https://www.washingtonpost.com/business/2024/10/30/companies-tariffs-trump-prices/
June 1, 2021
U.S. manufacturers blame Trump-era tariffs for inflations rise
Companies appeal to Biden administration to roll back the tariffs
https://www.marketwatch.com/story/u-s-manufacturers-blame-trump-era-tariffs-for-inflations-rise-11622387247
November 13, 2018
Trump's steel tariffs create big profits but few new jobs
https://www.reuters.com/article/us-usa-trade-nucor-insight/trumps-steel-tariffs-create-big-profits-but-few-new-jobs-idUSKCN1NI1FC/?utm_source=reddit.com
Skittles
(158,205 posts)the price hikes will happen regardless of who wins
FightFight
(90 posts)GB_RN
(3,109 posts)Cantaloupe Caligula said his tariffs wouldnt cost consumers more. He said the (insert exporting country here) would pay!!!
Ugh. His sheep are so goddamned stupid. Idiocracy was way too optimistic.
jvill
(350 posts)Rinse and repeat.
Over the last 50 years, Democrats have a VASTLY better economic record; lower inflation, higher GDP, lower unemployment, higher wages, etc.
Doesnt matter if the media continues to frame tax cuts as the ultimate, end all be all, of economic policy. Thats literally all the GOP has got, but it seems that is all they need.
durablend
(7,894 posts)It's gonna be companies way to kneecap her in the door and like you said, he's going to egg it on and his rubes will believe it.