How Trump’s trade war is complicating American businesses #china #politics #shorts
Bloomberg Television·2025-07-03 01:01
Recently, the US and China agreed to diffuse trade tensions with Trump saying they've reached a deal effectively keeping the tariffs at 55%. That's 30% extra on top of the 25% from his first term. I asked Rick Wenberg, CEO of Learning Resources, an American toy company that makes most of its products in China, how that would affect his business.It's hard to estimate because of course who knows what the rates will be, but um I estimate the number now is 20 to 30 million and we still have to pay income taxes ...