Vermont companies: Tariffs are cutting into bottom line
BARRE, Vt. (AP) — Vermont County Store CEO Jim Hall says consumers are going to pay for tariffs on China goods and that it’s going to hurt companies’ profits.
Hall made his remarks Friday at an event hosted by Democratic Rep. Peter Welch in Barre, Vermont.
Welch tells WCAX-TV that businesses from agriculture to technology report that the tariffs are increasing expenses, hurting consumers and threatening relationships.
President Donald Trump has imposed U.S. tariffs on $250 billion worth of Chinese goods and has threatened to impose tariffs on additional imports.
Welch said he’s concerned that the president “overreached” and that it’s time to re-evaluate the tariffs. More than a dozen companies attended the event.