Tariffs force company to move back to the United States…

  • Williams-Sonoma CEO Laura Alber said Monday that the company shuffled its operations over the past year in anticipation of high tariffs on imports from China.
  • “I think that you’re better off preparing for the worst,” she said in a one-on-one interview with “Mad Money’s” Jim Cramer Monday. “Unfortunately that pessimism has come true and we are more prepared.”
  • Alber said it’s beneficial to bring jobs back to the United States because “the cost from the freight coming from Asia offsets the costs of the labor.”

Williams-Sonoma CEO Laura Alber said Monday that the company shuffled its operations over the past year in anticipation of high tariffs on imports from China.

The home goods retailer made adjustments over the past year believing that tariffs on Chinese imports could reach 25%.

“I think that you’re better off preparing for the worst,” she said in a one-on-one interview with “Mad Money” host Jim Cramer Monday in San Francisco. “Unfortunately that pessimism has come true, and we are more prepared.”

Williams-Sonoma shifted some furniture production to Vietnam, Indonesia and the United States after President Donald Trump slapped 10% duties on $200 billion worth of Chinese goods last year. Higher tariffs, at more than double that rate, went into effect Friday. Chinese officials said Monday the country plans to retaliate by raising tariffs on $60 billion of U.S. goods.

 

www.cnbc.com/2019/05/13/williams-sonoma-ceo-says-it-shifted-operations-ahead-of-tariff-hikes.html

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