Trump’s Tariffs Will Hurt These Companies
August 31, 2018
- Author: Bronwyn Flores, CTA
We are one week away from the White House’s Sept. 6 deadline for comments on its latest round on tariffs – a 25 percent trade tax on $200 billion of Chinese imports – and U.S. businesses are warning the Trump Administration they will increase costs, cause layoffs, raise consumer prices and delay products coming to market.
California-based startup Brilliant tells CNBC’s Power Lunch it will be forced to delay its product launch or raise prices by as much as 50 percent because it is caught in the middle of the U.S.-China trade war. Brilliant makes a smart switch that adjusts lighting by responding to touch, voice and acting as a video intercom. Brilliant’s latest product won a CES Innovation Award.
Brilliant CEO says company caught in crosshairs of US-China trade dispute from CNBC.
In California specifically, job loss from the tariffs on $50 billion of Chinese imports is expected to surpass 18,000, according to a study done earlier this summer by CTA and the National Retail Federation.
JLab Audio - a wireless earbuds and headphones maker located in Carlsbad, CA – tells San Diego’s ABC News it’s considering letting employees go if the Trump administration imposes tariffs on Bluetooth products. JLab Audio started as a four-person company working out of an apartment to employing 40 people today.
Trump’s tariffs harm American businesses. Take action before Sept. 6 and tell the White House they should oppose tariffs.
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