menu_open Columnists
We use cookies to provide some features and experiences in QOSHE

More information  .  Close

'Frightening': US Restaurants, Producers Face Tariff Whiplash

8 0
previous day

From European wines to industrial tools, global tariffs launched by US President Donald Trump this week promise to sweep through the world's biggest economy, impacting everyone from restaurant owners to industrial manufacturers.

For Brett Gitter, who makes his quality control instruments in China-based factories, Trump's planned tariff hike on goods from the country marks a further price surge to potentially startling levels for customers.

"I add a surcharge at the bottom of every invoice to cover the expense of the tariff," he told AFP.

"The bottom of the invoice now is going to say 54 percent," he added, referring to a new rate hitting Chinese imports starting next Wednesday.

All of this stacks on an existing 25 percent rate Chinese imports already faced before Trump returned to the presidency, he said, although he tried to absorb some of the earlier duties.

"That's a lot," he added. "That's going to alarm people."

This week, Trump unveiled a sweeping 10 percent tariff on most US trading partners, set to take effect on Saturday.

He declared........

© International Business Times