U.S. outdoor equipment company cancels production due to Trump tariffs
CBS America · Recent
CBS America
Recent
Many American businesses are bracing for negative consequences of President Trump's tariffs set to take effect Friday. Ben Knepler, co-founder of the Pennsylvania-based outdoor equipment company True Places, joins CBS News to discuss how the tariffs are impacting his small business.
Breakdown
- U.S. tariffs are causing American businesses to reconsider overseas manufacturing. 1s
- True Places moved production from China to Cambodia to avoid tariffs. 1m 25s
- A new 36% tariff on Cambodian imports has made production financially unviable. 2m 3s
- True Places has cancelled further production for the year and will sell only existing inventory. 2m 46s
- The company is now in 'survival mode' due to the ongoing tariff challenges. 3m 4s