Main Street feels the pinch from China tariffs
Sandra Payne said she held out for as long as possible before raising her prices.
The owner of Denver Concrete Vibrator, which manufactures equipment that strengthens and settles concrete for infrastructure projects, said tariffs finally took a toll on her business. Raising prices modestly became necessary to remain competitive as her vendors, many of whom rely on imports from China, began charging more.
"We waited a long time to increase prices. We finally did a small increase recently," said Payne, who has owned the Colorado business for nearly two decades. "But that still won't cover what we expect in the coming months or years."
Payne said she's tried to source locally and domestically, but many vendors disappeared after the recession, making relying on imports more of a constant. While cutting her staff of eight, including Payne and her husband, has not been necessary as of yet, the future is uncertain.
As a U.S. manufacturer, Payne has a clear message: Tariffs are doing more harm than good.
"For years I have been hearing that manufacturing is lost in America," Payne said. "And yet there are thousands of manufacturing companies just like this one out there trying to make things domestically. I think it's going to hurt us very badly."
https://www.msn.com/en-us/money/smallbusiness/main-street-feels-the-pinch-from-china-tariffs/ar-AACTmW3?li=BBnbfcN