Colorado businesses to feel impacts of Trump’s 50% tariffs on India
President Donald Trump's Plan to level the playing field when it comes to international trade is focusing in on India. He announced a 50% tariff to goods from India Earlier this week. India has responded since by delaying plans to buy our weapons and aircraft.
While this plays on the Global Stage, are firms in Colorado already worried about the impact.
If the owner and CEO of BLONC Virgin-Hair extensions Seine Bianca Powell-Powell-Powell source India is India, with 90% of their inventory imported from the United States
“With our raw hair extensions, which includes Clip-Ins, bundles, bunches, wefts, everything you can think of,” Powell said.
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India is one of dozens of countries that were subject to the President's rates on import, who kicked in Thursday.
“My heart dropped,” Powell said. “We went to pay out $ 200 to pay $ 500 on a $ 2,000 order to increase our prices and should I get a clear understanding of how we are billed for this new, add-on increase.”
“If you put the new import, consumers must pay,” Kishore Kulkarni, an economy professor at MSU Denver.
Kulkarni said, while India is not a major exporter for the United States, Imports the US for about $ 100 billion, which is small goods, which is compared to Mexico, Japan or Canada.
“If you have a business, that is very dependent on the Indian imports, you will apparently you will see a much more bad consequence this,” Kulkarni said.
While India has 21 days to respond to the potential extra rates before they go into effect, Kulkarni said that this is still causing this much uncertainty for local companies.
“Colorado is not a great importer for Indian goods,” Kulkarni said. “But, for any computer is uncertainty not very good because a blurred future for companies is not a very good sign for them to bloom.”
Powell says they have to increase prices quickly to cover the increased costs. Another option has sent products with different locations to prevent the rates, that will still let them leave longer delivery times.
“The resources everyone in around the world,” Powell said. “So I hope just they can all come to an agreement.”
