How Trump’s trade war is complicating American businesses #china #politics #shorts

Tariff Impact on American Toy Company - US and China agreed to maintain tariffs effectively at 55%, including 30% extra on top of the initial 25% [1] - The American toy company estimates tariffs could cost them 20 million to 30 million USD, before income taxes [2] - The company views tariffs as a tax on American businesses and consumers, contradicting the President's claim [3] - The company CEO states they borrow money to pay the tariffs to the US government, hoping to recoup the cost through sales [3] - The CEO emphasizes that the Chinese government is not paying the tariffs; the company is directly responsible for the payment [4] Company Strategy and Perspective - The company is facing a 600 billion USD collective tax bill across numerous businesses, impacting profitability [4] - To remain financially viable, the company may need to pass some of the tariff costs onto consumers [4] - The company CEO asserts they do not conduct business with the Chinese government [4] - The company is engaging in difficult conversations with Chinese suppliers and considering legal action against tariffs [5]