In prepared testimony, Trice said tariffs “cripple Jasco’s ability to generate profits” and warned the measures Online Cigarettes Store USA are causing “irrecoverable damage” to the business.
“The administration’s over-reliance on tariffs as an all-purpose foreign policy tool creates unpredictable and artificial market disruptions that are not conducive to a healthy business environment,” he wrote. “Tariffs at 25% exceed Jasco’s operating margins and, absent efforts to mitigate and offset the financial impact, would immediately convert the business our team built from profitable to unprofitable.”
Almost everything Jasco sells is made in China, and while the President Trump thinks companies Newport Cigarettes Shop Jasco should bring manufacturing home, Trice says they simply cannot.
“There’s no factories in the world that have both the technical capabilities as well as the production capacity to immediately replace all the production we’ve built in China over the last 40 years,” Trice told Yahoo Finance. “It will take years and tens Newport Cigarettes Shop of millions of dollars to redevelop our products and to ramp up production in other countries.”
And even if they did, prices would go even higher and that could be the end of their business.
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