The firework industry braces for the impact of Trump's tariffs amid U.S.-China trade tensions.
When the Trump administration announced plans to slap 25% tariffs on $300 billion in Chinese imports, a sense of panic settled over the firework industry. Companies, who rely on China’s pyrotechnic products, worried possible tariffs would darken skies around the country.
“They’re putting an immense amount of pressure on what is basically small businesses that have less than 25 employees,” said Pelkey, who joined hundreds of other business owners and executives at hearings last week urging the Trump administration to stop plans for additional tariffs. “These are three-, four-, five-generation family businesses that are struggling just to meet their financial needs throughout the course of the year.
Future firework spectacles are in dangerPelkey said one of the biggest nights for fireworks — the Fourth of July — could be in jeopardy if Trump increases tariffs. “You have fireworks that can come from other countries but nowhere near the quantities that are required to perform the Fourth of July in the United States,” Pelkey said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Giant Baby Trump blimp group will protest president's fourth of July celebration near Lincoln MemorialInfamous blimp set to appear just before Trump gives speech at his 'Salute to America' event.
Read more »
Trump prepared to impose lower tariffs if China talks failTrump said he was prepared to impose additional tariffs on China if talks this week don’t end in progress, but suggested additional duties could start at a lower amount of 10 percent
Read more »
Donald Trump, China and climate change are America's biggest threats, say DemocratsFour of the candidates on stage said China posed the most danger to the U.S. and another four identified climate change as the biggest threat.
Read more »
FedEx, embroiled in U.S.-China trade war, sues Trump administrationFedEx says holding it responsible if its customers ship U.S. tech to Huawei is unreasonable. Meanwhile, China is preparing to blacklist it.
Read more »
Hopes for Resolving U.S.-China Trade Fight Hinge on Trump and XiTrump and Xi will seek to revive troubled U.S.-China trade talks in Japan this week. “You’re going to need a magician of greater skill than Houdini to resolve these challenges over a long time, yet alone over a few hours in Osaka.”
Read more »
Nintendo, Sony, Microsoft Urge Trump to Withdraw China Tariffs in Joint LetterLeading game companies Nintendo, Sony, Microsoft urge Trump to withdraw China tariffs in joint letter
Read more »