Trump’s Threat Of A 35% Tariff Could Hurt Ivanka’s Own Clothing Line
- 8 years ago
President-elect Donald Trump’s warning to U.S. companies seeking lower production costs elsewhere could negatively impact his own daughter, Ivanka Trump.
President-elect Donald Trump’s warning to U.S. companies seeking lower production costs elsewhere could negatively impact his own daughter, Ivanka Trump, reports Business Insider.
Just days after he announced a deal to keep Carrier from moving its Indiana-based operation to Mexico, Trump issued a series of tweets warning of serious consequences for others considering such a move.
He stated, in part, “...any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. without retribution or consequence, is WRONG!”
The president-elect then added, “There will be a tax on our soon to be strong border of 35% for these companies wanting to sell their product, cars, A.C. units etc., back across the border. This tax will make leaving financially difficult...Please be forewarned prior to making a very expensive mistake!”
A recent Bloomberg report states that Ivanka Trump’s own apparel line, estimated to be worth $100 million, “...is sewn in Asian countries under a licensing agreement with G-III Apparel Group Inc.”
Harvard professor Robert Lawrence also pointed out in March, that “...of the 838 Ivanka products advertised through [trump.com], none appear to be made exclusively in the U.S.; 628 are said to be imported and 354 made specifically in China.”
Bloomberg notes if Ivanka does change her business strategy, getting her products manufactured in the U.S. would greatly increase costs, leading to a significant impact on profitability.
President-elect Donald Trump’s warning to U.S. companies seeking lower production costs elsewhere could negatively impact his own daughter, Ivanka Trump, reports Business Insider.
Just days after he announced a deal to keep Carrier from moving its Indiana-based operation to Mexico, Trump issued a series of tweets warning of serious consequences for others considering such a move.
He stated, in part, “...any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. without retribution or consequence, is WRONG!”
The president-elect then added, “There will be a tax on our soon to be strong border of 35% for these companies wanting to sell their product, cars, A.C. units etc., back across the border. This tax will make leaving financially difficult...Please be forewarned prior to making a very expensive mistake!”
A recent Bloomberg report states that Ivanka Trump’s own apparel line, estimated to be worth $100 million, “...is sewn in Asian countries under a licensing agreement with G-III Apparel Group Inc.”
Harvard professor Robert Lawrence also pointed out in March, that “...of the 838 Ivanka products advertised through [trump.com], none appear to be made exclusively in the U.S.; 628 are said to be imported and 354 made specifically in China.”
Bloomberg notes if Ivanka does change her business strategy, getting her products manufactured in the U.S. would greatly increase costs, leading to a significant impact on profitability.