U.S. firms tweak products to survive trade dispute with China. More here:
SHANGHAI/NEW YORK - When U.S President Donald Trump tweeted in May his intention to raise tariffs on Chinese goods, management at California-based NewAir Appliances knew they needed to do something or their business would be in trouble.
Like NewAir, many importers of goods from China have had to make difficult business decisions and sharp changes in strategy as they reel from the impact of U.S. tariffs on $250 billion of Chinese goods. Working closely with suppliers to develop products, he is also implementing measures like air-mailing samples to the United States instead using cheaper maritime freight, aiming to slash up to a month off the process of getting goods approved.NewAir, a company with 50-plus employees, would likely spend “hundreds of thousands of dollars” on the project and was considering hiring a marketing manager, as Stephenson’s focus shifts to dealing full-time with trade war strategy.
Danby expects to turn over 80% of its product line of about 300 goods in 2019, compared to a normal rate of 30%, he said, adding that improvements in technology had made this an opportune time for product revamps.
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