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Bad news for our chicom supporters
WestlinnDuck
Member Posts: 13,931
in Tug Tavern
Takes a while to turn an oil tanker around. After decades of both republican and dem support for unfair trade with the chicoms, momentum is starting to shift. For the first time, China is facing consequences for unfair trade and intellectual property theft. Of course, not one dem presidential candidate is supporting the tariffs. Keep rooting for the away team.
https://www.cnbc.com/2019/08/20/home-depot-says-suppliers-are-moving-manufacturing-out-of-china.html
Home Depot’s suppliers are trying to head off some of the increased costs from rising tariffs by moving at least some of their production out of China, executives told investors Tuesday.
“I’m not aware of a single supplier who was not moving some form of manufacturing outside of China,” said Ted Decker, executive vice president of merchandising. “So we have suppliers moving production to Taiwan, to Vietnam, to Thailand, Indonesia and even back into the United States.”
CEO Craig Menear said the tariffs on Chinese goods are projected to have a “cost impact” on U.S. sales of about 2%, or $2 billion. With suppliers moving at least some of their manufacturing outside of China, that reduces that impact by roughly one percentage point, executives said.
Zachary Fadem, an analyst at Wells Fargo, said the cost impact refers to what the company pays for the merchandise it sells. The company will have to price in a roughly 2% increase in cost of sales to account for the tariffs without the actions suppliers are taking to mitigate that damage.
https://www.cnbc.com/2019/08/20/home-depot-says-suppliers-are-moving-manufacturing-out-of-china.html
Home Depot’s suppliers are trying to head off some of the increased costs from rising tariffs by moving at least some of their production out of China, executives told investors Tuesday.
“I’m not aware of a single supplier who was not moving some form of manufacturing outside of China,” said Ted Decker, executive vice president of merchandising. “So we have suppliers moving production to Taiwan, to Vietnam, to Thailand, Indonesia and even back into the United States.”
CEO Craig Menear said the tariffs on Chinese goods are projected to have a “cost impact” on U.S. sales of about 2%, or $2 billion. With suppliers moving at least some of their manufacturing outside of China, that reduces that impact by roughly one percentage point, executives said.
Zachary Fadem, an analyst at Wells Fargo, said the cost impact refers to what the company pays for the merchandise it sells. The company will have to price in a roughly 2% increase in cost of sales to account for the tariffs without the actions suppliers are taking to mitigate that damage.