Trade war to bring more tariffs; Wilmington business leaders react

WILMINGTON, NC (WWAY) — The United States will place another tariff on Chinese goods Thursday, and China is expected to respond in kind. In response, the Foreign Trade Promotion Council held a conference in Wilmington Wednesday.

“It doesn’t matter what industry you’re in, or what kind of business you’re in. These tariffs are going to affect whatever products you’re using, or what you’re trying to export, or what you need to do to run your business,” said Rob Zapple, a New Hanover County Commissioner and business owner.

That’s the message that Zapple got out of the conference. Zapple says when the cost of building supplies go up for businesses like his, so does the price consumers pay.

“There are often times, ways to mitigate any of those adverse affects if you’re aware of what the issues are, and exactly how you’re being affected by it,” said Zapple.

That’s why Teresa Polino, a partner of the International Trade Group, spoke with business leaders from around New Hanover County about how to make the best use of their money and work around the high costs brought on by this trade war.

“Look to see where you are and how you’re being affected,” said Polino.

Polino says business owners should educate themselves and make those simple changes, like revising contracts, and changing sourcing or even products. For leaders like Zapple, he wants the best deal for his company and the community.

“Hundreds of the products that I’ll buy to build a house will be impacted by these tariffs. So, I want to find out what the full impact is and also, if there is any way to get any kind of exemption on there,” said Zapple. “And how that’ll impact it because again, it will flow to the client.”

Business leaders learned that it is about finding those loopholes and positioning yourself to use these tariffs to your advantage, to satisfy businesses and consumers.