This is a letter I sent to Andrew Sorkin, a host in the morning CNBC show
Subject: Trump Tariffs
Message: Mr. Sorkin, I watch your show participation as I much as time allows on CNBC. Love the show!
I want to give you my experience as a Chinese based manufacturer, importer and distributor of mosaic tiles. We are a small business, but our group of companies have been in business 25+ years and Ive been doing business in China for 19 years.
I am married to a Chinese, we live in Florida and do business nationwide. (www.bellacasatilecollection.com, www.glasstilehome.com). 100% of what we import is Chinese goods that I design and my wife’s Chinese company makes. We have beautiful designs that sell well. We are cost efficient and give our customers high quality at affordable prices.
The Trump tariffs have hurt us and our businesses; we absorbed the initial additional 10% tariff, DIDNT PASS IT ON, BUT our overall duty rate now 14.9%, but an additional 15%, making our overall duty 29.4% will hurt us , our customers,and the American consumer. I dont think we can pass this on . If I eat it, I will have marginal profitability.
As to Jim Cramers non stop stupid and uninformed comments as to switching manufacturing to some tiny country with no infrastructure is flat out absurd. I cant believe how classless and clueless he is!! ITS NOT REALISTIC OR DOABLE. Ive been all over Asia, I know it well, my investment there is more than $8-10 Million.
Im not excusing the Chinese, they are miscalculating, but I am one example of a very experienced business man who knows whats what in China, and has backed it up with hard dollars. This situation is not academic, no one wants to pay or pass on these onerous costs.
Please try to bring this up. ITS REAL, most of these people on your show treat it as an academic exercise. Unfortunately its not.