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Marketplace All-in-One

The great pre-Trump pivot

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 27 December 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

With threats of sharply higher import duties under a second administration of Donald Trump, companies are rushing to insulate themselves from the higher cost of doing business that could follow. More businesses are opting to stockpile inventory and look for manufacturers or suppliers outside of China. Also on the program: a giant of corporate America has died, and more younger people are looking to bet on sports.

Transcript

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0:00.0

There's only talk of higher tariffs with the incoming administration, but companies are already adapting.

0:08.4

I'm David Bruncatcha with threats of sharply higher import duties from the president-elect.

0:13.5

Companies are rushing to insulate themselves from the higher cost of doing business that could follow.

0:19.0

One example, stockpiling inventory.

0:21.8

Michelle Flurry from our partners at the BBC filed this report for us.

0:25.9

So these are some of the bags that we have at the warehouse.

0:29.8

Is it one of your most popular ones?

0:31.3

Yeah, then the Shea backpack.

0:33.1

Love this color.

0:34.2

Handbag designer Shrill Mersie takes time out of her day to show me around her company,

0:39.4

Minky Blues Warehouse, in Philadelphia.

0:42.1

And you can unzip the shelf and open it up.

0:45.2

She immediately took action after the election, reaching out to a Chinese manufacturing partner.

0:51.7

Ms. Mosey said she didn't want to risk delays, especially with the Chinese

0:55.4

New Year fast approaching at the end of January. After the election, I'm like, okay, we got to get

1:01.4

these bags in before you go on your vacation. The rush wasn't due to a sudden surge in demand. It was

1:08.6

the looming threat of tariffs.

1:12.7

I got to be ready and prepare for it and bring it in before the administration changes.

1:16.5

By shipping her bags ahead of schedule,

1:19.1

Shereil Mosey is working to avoid the tariffs on Chinese imports

1:22.8

that Donald Trump has promised to impose on day one of his presidency.

1:29.8

Standing here in Shirill's warehouse, it's worth remembering

...

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