Seattle Company Says 25% Tariff Will Mean Higher Prices
May 7, 2019 9:36AM PDT
Seattle, Wa. – A Seattle company that makes high end audio equipment says it will have to raise prices if President Trump boosts the tariff on Chinese goods to 25% on Friday. Alex Camara is CEO of AudioControl which gets up to a quarter of its parts from China. He says his company absorbed the cost of the current 10% tariff, but would have to increase the price of its products if the tariff goes to 25%.
He is hopeful negotiations this week will resolve the conflict before the threatened increase takes effect. If not, he expects to raise prices between 8%-12%.
He says ” I think this current strategy of punitive tariffs hurts us more than perhaps people realize.”