As tariffs on Chinese goods soar to 145%, one Fort Worth business owner says he’s feeling the financial pinch, but says he supports the effort to level the global playing field. NBC 5’s Vince Sims has the story on how local businesses are adjusting and what supply chain experts have to say.
As the owner of Dallas Fort Worth Car and Toy Museum it's hard for Ron Sturgeon to pick a favorite from his collection.
“Like your children, I’m not sure I can name a favorite,” Sturgeon said.
But some of them will soon be sitting on special rotating stands.
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WATCH HERE“We had ordered turntables from China,” Sturgeon said. “We researched them, and they were quite expensive in the United States.”
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SIGN UP The turntables were hit by the additional 125% tariff President Donald Trump imposed on China.
“So, we had to wire about $14,000 in additional tariffs yesterday,” Sturgeon explained.
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An unexpected financial hit that he's willing to accept.
“I guess I'd be crazy to say that it didn't upset me, but it only upset me for a short moment, because I think we're doing the right thing,” Sturgeon said. "We're putting pressure on all these other countries to even this playing field a little more, and through the years, I think, has gotten way out of whack. I think that we're making good steps in solving it.”
Some experts agree.
Dr. Brian Sauser is chair and professor of the Department of Supply Chain Management at the University of North Texas G.Brint Ryan College of Business.
“What we're experiencing with what the Trump administration is doing with the tariffs is something that should have been done for a long period of time,” Sauser said. “In some ways, we're playing a little bit of catch up to what the U.S. economy should be doing in protecting itself and how it deals with importing and even exporting.”
Sturgeon said while supporting the president's goals, he will also be looking at other buying options.
“We probably order something from China every few months,” Sturgeon said. “I would have to say today, with 125% tariff or something like that, we probably won't order that, or we'll find a different source for it, and we may have to pay more than we expected to pay in America.”
