It hasn’t happened yet. But if the CEO’s comments are any indication, it will. And very soon.
From David Winning’s article in The Wall Street Journal, via msn.com:
SYDNEY—When the leader of global appliance maker Breville spoke to shareholders at its annual meeting on Thursday, he moved quickly to address the elephant in the room.
“Now that [Donald] Trump has won the U.S. Presidential election, the near-term risk of material tariff increases on consumer goods coming out of China has solidified,” Chief Executive Jim Clayton said.
Trump’s plans now remain unclear. He has talked about a tariff of 10% to 20% on all imports, a tariff of 60% or more on imports from China, and tariffs of up to 100% on some imports from Mexico.
For Breville, the threat of new tariffs is a problem. The Australian company sells appliances such as espresso machines, toasters, juicers and microwaves in more than 70 countries, including the U.S. Most of its products are manufactured in the area around Shenzhen, a sprawling Chinese city on the border with Hong Kong.
Clayton said the company is already responding to Trump’s election, including by moving more of its production out of China as quickly as possible to protect itself against any new U.S. tariffs. “We will continue our inventory build in the U.S., unabated, likely until the increased tariffs are enforced,” he added.
How many more Brevilles do you think Donald Trump’s promised tariff policy will create? How fast do you think the massive shift of manufacturing from our enemy, communist China to more friendly countries – including the United States itself – will occur?
Is there any doubt this will be beneficial to the United States?
Think of it as an immediate gift to the country from our once/future President….
…and a reason for the would-have-been Vice President, Tim Walz – who made 30 or so visits to China over the years, including his honeymoon – to break out his (no doubt made in China) crying towel.
Boo hoo.
