US President Trump believes manufacturing in the US has declined because of cheap imports from many countries around the world, and he has punished the worst offenders, such as China, Vietnam, Thailand, Japan and the European Union with ‘penalty’ tariffs. In a colleague trade-paper, professionals from the laundry and textile industry recently expressed their concern.
Joe Ricci – president and CEO of TRSA, the professional trade association for textile rental businesses across North America, Canada and Mexico stated that “whether these or other tariffs are implemented or just threatened to be implemented, economic uncertainty is causing companies to pause plans for growth forcing companies to hold back, directly impacting job creation.”
Luci Ward – executive director of Textile Care Allied Trades Association (TCATA) more specifically related to the laundry industry by saying that “tariffs on imported goods have the potential to significantly disrupt the commercial laundry and drycleaning industry. With rising costs for essential equipment, chemicals, and supplies, businesses are faced with the challenge of balancing increased expenses while maintaining service quality and affordability for their customers.”
Conclusion: The uncertainty and confusion, as much as the tariffs themselves are negatively impacting businesses and slowing potential growth, new hires, expansion and more. Bizarre and puzzling… Australia is on the tariff list despite a trade surplus with the US, the Heard and McDonald Islands in the sub-Antarctic – populated solely by penguins and seals and no humans – are facing 10% tariffs and – extremely bizarre – Russia and North Korea are exempt…?
