The New York Times: Fear of Intensifying Trade War Ricochets Through Economy
Delta Children in New York, which sells cribs that it imports from China, swallowed most of the costs stemming from the first round of tariffs, the company's president, Joe Shamie, said. He said he had increased prices to retailers by only about 3 percent.
A new round of tariffs? “We can’t absorb them,” said Mr. Shamie, who described his company as the world’s largest seller of cribs. “Our prices will go up drastically.”
The average price of a crib is between $200 and $250, but prices will top $300 if the higher tariffs are enacted, most likely leading some families to forgo buying a new crib, he said.
Delta Children employs 350 workers. If crib sales decline because of the tariffs, Mr. Shamie said, he will have to consider layoffs.