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A Pennsylvania pointe shoe company lost everything in a warehouse fire. U.S. trade policy is making starting over even harder.
The volume of containers entering U.S. ports has stagnated over continued fears regarding Trumps foreign trade policy. “Marketplace” spoke to one drayage company about how it is trying to read the tea leaves ahead of the busy summer months.
Shipping companies rerouted their ships from China when tariffs were over 100%, and now it will take a while to get them back down.
The U.S. will import less and our exports will likely also suffer because of retaliatory tariffs from other countries.
Entrepreneurs who depend on imports from China have some big — and potentially expensive — decisions to make.
Shops that rely on imported products are trying to figure out how to weather the cost of tariffs and how to keep their shelves stocked.
There are extenuating circumstances, namely the rush to import goods before tariffs hit.
The trade deficit grew as imports increased by $16 billion in March, the Census Bureau reported.
“I've had to pick up the pieces so many times that I know that we can get through it,” said Farmgirl Flowers CEO Christina Stembel.
Prices are expected to rise across the board — from construction materials to consumer electronics and clothing.