Businesses prepare for effects of possible tariffs if Trump wins

[Craig]

AS FORMER PRESIDENT DONALD TRUMP WRAPPED UP HIS CAMPAIGNING ON MONDAY, HE WAS TALKING TARIFFS DURING A STOP IN PITTSBURGH, PENNSYLVANIA. IT’S BEEN A FAMILIAR TOPIC FOR TRUMP AND IT HAS THE BUSINESS WORLD WATCHING CLOSELY, IN THE EVENT HE WINS THE ELECTION.
DURING HIS RALLY, THE REPUBLICAN PRESIDENTIAL CANDIDATE STARTED TALKING ABOUT THE ADDICTIVE PAIN-KILLER FENTANYL AND THE NEGATIVE EFFECT IT HAS HAD ON THE UNITED STATES. TRUMP STATED THAT HE WILL PUNISH MEXICO AND CHINA, WITH A 25% TARIFF ON GOODS, UNLESS BOTH COUNTRIES STOP THE FLOW OF FENTANYL INTO THE U-S.
[DONALD TRUMP : “ WE ARE GOING TO PUT A TARIFF ON MEXICO IF THEY DON’T IMMEDIATELY SENDING THAT HORRIBLE STUFF TO THIS COUNTRY AND LET ME TELL YOU SOMETHING, THOSE DRUGS WILL STOP SO DAMN FAST THAT YOUR HEAD WILL SPIN AND I’M NOT PLAYING GAMES AND I’M DOING THE SAME THING TO CHINA.”]
TOOL MAKER, STANLEY BLACK & DECKER IS JUST ONE COMPANY THAT IS ALREADY PREPARING FOR POSSIBLE TARIFFS TO BE SLAPPED ON CHINA. PRESIDENT AND
CEO DON ALLAN TOLD A BUSINESS ANALYST ON A RECENT EARNINGS CALL: “ WE HAVE BEEN PLANNING FOR THIS POSSIBILITY SINCE THE SPRING AND HAVE GONE THROUGH A VARIETY OF DIFFERENT SCENARIOS TO PLAN FOR AND OBVIOUSLY COMING OUT OF THE GATE THERE WOULD BE PRICE INCREASES.”
ALLAN WENT ON TO SAY THE SECOND ASPECT OF BLACK & DECKER’S PLAN WOULD BE TO MOVE PRODUCTION, AND ASPECTS OF ITS SUPPLY CHAIN, **OUT OF CHINA ** TO OTHER ASIAN COUNTRIES, OR EVEN MEXICO. ALLAN SAID THIS IN-ADVANCE OF TRUMP’S MOST RECENT COMMENTS ON TARIFFS.
ALLAN NOTED THAT ITS UNLIKELY THE COMPANY WOULD MOVE PRODUCTION OR BUSINESS, BACK TO THE UNITED STATES BECAUSE IT IS NOT COST-EFFECTIVE.
HE ALSO QUESTIONED WHETHER THERE IS ENOUGH LABOR SUPPLY IN U-S, TO DO SO. FOR MORE UNBIASED UPDATES. DOWNLOAD THE STRAIGHT ARROW NEWS APP