(Katie Lobosco – CNN)
Most of the baseball caps sold in the United States are made in China, and President Donald Trump’s trade war has made them 10% more expensive.
The tariff forced Missouri-based Cap America, a sports embroidery outfit that’s bought most of its caps from China since 2001, to make changes. The company is trying out a new supplier in Bangladesh for some orders – and after eating the full cost of the tariffs for months, CEO Phil Page also decided in January to raise prices on his hats.
Page and business owners across the country are waiting to hear how trade talks between US and Chinese negotiators progress when they meet this week in Beijing.
Trump has threatened to escalate the 10% tariff he’s placed on $200 billion of Chinese goods to 25% if a deal isn’t reached. But if talks go well, the tariffs might be lifted altogether. Click here to read more.