The Tariffs Aren’t Helping This Manufacturer
In our latest Dashboard podcast, Greg Shugar reminds us that Donald Trump promised that if you make it here, you won't pay the tariffs. That hasn't been Shugar's experience.
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THE 21 HATS PODCAST: DASHBOARD
Even Made in the U.S.A. Manufacturers May Not Survive the Tariffs: This week, Greg Shugar, owner of Beau Ties, a men’s accessories business, explains how the tariffs have the potential to destroy the very businesses they are supposed to protect. As Shugar points out, President Trump has said all along that if you make it here, you won’t have to pay the tariffs. Well, Beau Ties makes it here -- but it has to import fabric from overseas because the silk fabric it needs is simply not produced here. And those imports are being taxed at a very high rate. At the moment, Shugar is waiting to hear whether Trump will indeed, as he has threatened, slap an additional 100-percent tariff on imports from China, which Shugar says could force him to shut down. The threat alone means that he can’t make plans two weeks out -- let alone start thinking about next year.
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