New tariffs ‘a disaster’ for the US economy: Columbia CEO
05/08/2019
On August 1, the US president announced that a new list of products, items that have so far remained untouched by the measures, will be subject to extra tariffs of 10% from September 1. It means almost all US imports of Chinese-made products will be caught up in this dispute.
Reacting to the announcement, Mr Boyle said that should these additional tariffs come into effect, it would be “a disaster” for the US economy, employers and consumers. He went on to describe the measures as “a massive tax on employers and consumers, not on China”.
With regards to how it would affect his company, he said Columbia would be forced to raise the prices of its products.
Concluding his statement, Mr Boyle appealed for the US administration not to damage the economy “with the misguided conception that trade wars are fun”.
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