I was watching a clip from CNN this morning featuring two American women who run small businesses and their concerns about the tariffs.
One in particular had a story which would be happening in thousands of small businesses across the country. She designs and manufacturers some kind of baby products, and has them manufactured in China. It's a small business, I think with 5 employees. She has a loan secured by her house to support the business.
She said she has a shipment of products waiting to leave China, but she knows she cannot afford the massive tariff abuptly imposed on them. It means the few months of stock she has left might be the end of the business. She can't figure out a work around (she mentioned shipping them first to Australia and repackaging them before sending on to the US) because of the continuous changes in policy "every 36 hours". She also said there is no way an American factory can be expected to be geared up to make her particular products in less than (I think) 6 to 12 months. That's assuming she can find any factory that can take it on.
This all sounded very realistic and with no exaggeration for political spin.
I thought it a very effective and telling story on the turmoil which Trump and his very rich advisers, who don't have a worry in the world about how it will affect them, are causing.
Here's a link to the video.
1 comment:
Yes very effective. Way too abrupt and there is cowardice in the abruptness. Because it’s an attempt to solve all their problems with one big tariff move.
But they don’t have the guts to make peace around the world. Team Trump is too feeble to close down government departments. The administration doesn’t have the balls to take on the banks and send the money creation benefit to the treasury.
Very easy to try and bully all these foreigners and run roughshod over small business. But they aren’t making the really tough moves.
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