ABC News Daily What Trump’s China tariffs did to businesses
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May 15, 2025 Cassie Abel, Founder and CEO of Wild Rye, shares her firsthand experiences navigating the turbulence of Trump's tariffs on Chinese goods. She discusses the emotional and financial challenges faced by her women's outdoor apparel brand amidst shifting trade relations. Cassie highlights the costs of U.S. manufacturing and her shift to Chinese factories, emphasizing the need for strong partnerships. The conversation also critiques current tariff policies and the unpredictability they create for businesses, suggesting collaboration over competition for better outcomes.
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Cassie Abel's Tariff Struggle
- Cassie Abel shares how tariffs nearly sank her outdoor apparel business due to huge cost increases.
- She moved production from the US to China for better quality and scalability despite challenges.
Tariff Pause Creates Rush Crisis
- When tariffs briefly dropped to 30%, Cassie Abel scrambled to move products before they became subject to higher tariffs again.
- This rush caused logistical headaches, including shipping capacity issues due to many brands rushing products.
Tariffs Hurt Both Countries
- Tariffs are taxes on American consumers who import Chinese goods, hurting people in both countries.
- Economic cooperation, not competition, benefits both America and China by leveraging each country's strengths.