Stocks tanked, a major U.S. bank upped its risk of a recession to 60%, and brand executives scrambled Thursday to come up with a plan to respond to the severe tariffs announced Wednesday by the Trump administration.
Paul Naude, the CEO of surf and wetsuit apparel brand Vissla, said everyone had just worked through the most recent 20% tariffs that Trump had announced on goods from China, when the even more extreme tariffs were announced.
“The manufacturers had stepped up, the supply chain had done what they can, the brands had done what they can to lessen the impact,” Naude said. “Now we’ve got to start all over again. Virtually every country that supplies goods to this country is affected, and they are not small increases – they are significant increases.
Here is the link to the remainder of this helpful and relevant article that ends with some sound advice for retailers from Paul Naude: https://shop-eat-surf-outdoor.com/news/theres-no-way-this-can-last-surf-and-outdoor-industry-on-trump-tariffs
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