European players with long standing interests in the North American market are facing turbulent times. Uncertainties inflamed by the current trade wars are making them cautious. However, they are not likely to abandon the market, despite the ongoing trade wars initiated by the Trump administration and the serious decline in the US economy.
The weakening US dollar and the existing risks of recession may indeed induce foreign investors – including some major laundry and drycleaning operators – to withdraw from the US market and the revision of their investment programmes there. However, representatives of global companies with interests in the North American market such as the Spanish Onnera Group, Jensen, Kannegiesser and Kreussler Inc. remain optimistic regarding future prospects of the market.
Luci Ward – Textile Care Allied Trades Association (TCATA) executive director recently stated: “Tariffs on imported goods have the potential to significantly disrupt the commercial laundry and drycleaning industry. The ripple effect could ultimately impact not just manufacturers and distributors, but also the broader supply chain and the communities they serve.” Conclusion: uncertainty and confusion, as much as the tariffs themselves are negatively impacting business and slowing potential growth, new hires, expansion and more.
