The head of Hudson-based Joann Stores joined other business leaders to speak out about the impacts tariffs are having on their companies.
Last week, President Trump announced a 10 percent tariff on $300 billion of Chinese goods. It’s set to take effect September 1.
In a call with reporters Wednesday, Wade Miquelon says the tariffs don’t take into account that many of these businesses have developed their supply chains over years and don’t have alternatives.
“If you have one alternative from one supplier and you don’t like their price, you’re out of business. So, it’s not as if you know we can just basically easily spin the dial and go somewhere else. And I think that’s what’s being missed.”
Last August, Joann Stores urged customers to sign a petition and write to members of Congress and the White House asking for exemptions from tariffs on hundreds of products the company imports. The petition remains active.
Other business leaders on the call included Lance Ruttenberg, CEO of Pittsburgh-based American Textile Company; Joseph Shamie, president of Delta Children in New York; Jay Foreman, CEO of Basic Fun! Toys in Florida; Win Cramer, CEO of JLab Audio in California; and David French of the National Retail Federation.