On Friday, the Trump administration raised tariffs on imports from China from 10 percent to 25 percent—a major hit for some companies. The list of imports includes various outdoor goods, such as backpacks and sports bags, leather gloves, headwear, camp stoves, bikes parts, and more. The president has also threatened to impose tariffs on another $325 billion of goods, so essentially all imports from the country.
"We know that increased tariffs will lead to higher prices, passed from manufacturers to retailers, and ultimately to consumers," Snowsports Industries America President Nick Sargent said. "This is not a pro-growth strategy. [SIA] feels strongly that if the list three tariffs are enacted, we’ll see our local retail businesses suffer the most so we strongly urge the Administration to continue discussions to avoid this reactive and dangerous approach."
As we follow this topic closely, we want to know: How is your business impacted?
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