Trump’s Trade War Could Blow Up America’s Fourth Of July
by Tyler Durden
ZeroHedge.com
Tue, 06/18/2019
President Trump reportedly wants to double the fireworks display in Washington, D.C., on July Fourth. Next year, firework displays across America could be in jeopardy if a full-blown trade war takes effect.
Fireworks industry members, whose supply chains extend into China, are concerned that the next round of tariffs would collapse their bottom line.
The 25% tariffs that President Trump had threatened would mainly damage small to medium-sized family-owned businesses, as well as make firework displays for small towns so expensive that some may have to cancel, reported MarketWatch.
“We’re concerned the heartland of America will be most affected in terms of their skies being dark on Independence Day,” Julie Heckman, executive director of the American Pyrotechnics Association, told MarketWatch.
Heckman said this year’s upcoming July Fourth would not be affected because of all of the fireworks have already been shipped from China. But if President Trump, the tariff man, continues down the road of economic war and slaps 25% tariffs on the remaining $300 billion, the industry could start feeling the financial pressures by Labor Day and unquestionably by New Year’s Eve.
Consumer and professional fireworks have been spared from the 25% tariff on $200 billion in Chinese imports, but President Trump’s latest threat of another 25% on $300 billion would include fireworks.
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