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.
In December, Williams-Sonoma announced that it would open a facility in Tupelo, Mississippi, in January and add hundreds of jobs to manufacture upholstered furniture.
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,” as the company learned after opening its first Sutter Street Manufacturing unit in North Carolina.
Exactly why the Tarrifs work. Offsets the cost of companies manufacturing using cheap slave labor. Brings jobs home.
ReplyDeleteI’m not tired of winning.
ReplyDeleteWelcome home.
ReplyDeleteOf course the liberal press will never report this good news. It does not fit their hate America agenda.
ReplyDeletethe liberal press would report the flavor even better than the smell if they had their faces shoved into a steaming manure pile at a pig farm. that's just a pet theory of mine. what say we find out if it's just as factual as any of their other reporting and have some times and wapo reporters visit a pig farm?
ReplyDelete