Trump Tariffs Are Coming - How Amazon Sellers Can Avoid Disaster in 2025 | Steve Simonson

Lunch With Norm - The eCommerce & Amazon FBA Podcast

Norman Farrar

Marketing, Entrepreneurship, Business, Business:entrepreneurship

5 • 1.4K Ratings

🗓️ 23 December 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Lunch with Norm, we dive into a critical topic that every private-label Amazon seller needs to prepare for: the potential impact of Trump tariffs as he takes office in January. Norm Farrar sits down with e-commerce expert Steve Simonson to unpack the risks, challenges, and strategies for navigating the turbulent waters ahead. This episode is sponsored by Walmart Marketplace - Build, grow, and elevate your eCommerce business with one of the most trusted names in retail. Sell your products on Walmart.com. Learn more - https://marketplace.walmart.com/?utm_campaign=2024-US-MP-GEN-DB-LWN&utm_source=Lunch_With_Norm&utm_medium=Direct_Buy Make your profits bright this holiday season with Walmart Marketplace. Sign up today. Join the Beard Nation at https://www.facebook.com/groups/lunchwithnorm Sign up for our Newsletter - https://lunchwithnorm.beehiiv.com/ This episode is brought to you by AMZ Rank: Hey Amazon, Walmart, and TikTok sellers, We’re in Q4, and I know the pressure is on. How do you rank higher and sell more during the busiest time of the year? As a certified Amazon partner agency, AZ Rank has the expertise and proven strategies to take your products to the top, driving visibility and sales across all platforms! With proven expertise in optimizing search rankings, AZrank guarantees your products stand out during this critical shopping season. Email AZrank today at [email protected] Make sure to mention The Beard Guy sent you to unlock an exclusive discount! This episode is brought to you by Startup Club: Startup Club is the largest club on Clubhouse supporting the Startup ecosystem. Startup Club offers an exciting sense of belonging to established and aspiring entrepreneurs, startup businesses, and companies wanting to Learn, Connect, and Grow. Join us for conversations with founders, entrepreneurs, angel investors, venture capitalists, subject matter experts, and more. For more information visit https://Startup.club This episode is brought to you by Seller Basics: Seller Basics is the ultimate guardian for account suspensions, ASIN hiccups, and IP headaches. For only $99 per month, Seller Basics provides a dedicated team to safeguard your business. And that's not all! Gain access to free legal consultations with seasoned eCommerce attorneys. With no binding contracts, you can cancel anytime with just a month's notice. Consider Seller Basics your Amazon account's comprehensive health plan. For more information visit https://www.sellerbasics.com *All conversations and information exchanged on the Lunch with Norm podcast or interaction on the Lunch with Norm Website is intended for educational and entertainment purposes only. Do not confuse this with advice or direction with your business per se. Always do your own research before following advice from any podcast/website. Amazon's Terms of Service is always changing. Make sure you are following relevant up-to-date information.

Transcript

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0:00.0	Most people are nervous because they expect some of the potential increases that have ranged
0:05.7	from 10% on everything coming from China to 25% to if they annoy us, it's going to be 100%.
0:12.9	If you're importing, there will be some changes, there will be rapid changes potentially,
0:17.7	and a little bit of pain potentially.
0:19.5	What if I told you everything you've built
0:21.4	on Amazon could be at risk? With Trump's tariffs looming, the rules of the game are about to change.
0:27.2	Higher cost, tighter margins, and a lot of sellers left behind. Now the question is, will you be
0:32.8	one of them? Or will you take advantage and prepare for what's about to come?
0:38.4	Today we're going to be discussing Trump tariffs
0:41.1	and how Amazon sellers can avoid disaster in 2025.
0:45.4	Our guest is a lifetime entrepreneur.
0:47.9	He has founded, purchased, built, and sold numerous companies
0:51.3	over the past three decades.
0:53.4	Along the way, his companies have been publicly
0:55.6	recognized with three consecutive years on the Inc 500 list. He's also been a finalist in the
1:02.6	Ernst & Young Entrepreneur of the Year Award. So please welcome Steve Simonson.
1:07.7	Here's Steve. Yeah, there we go. That's my best intro yet. There's a lot of talk about these tariffs.
1:13.6	A lot of people are spouting off.
1:17.6	That's the end of the world.
1:20.6	Sky is falling.
1:21.6	First of all, why don't we just get into what are these tariffs, then how are they going to affect
1:26.6	Amazon sellers? Well, the first thing is
	...

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