Kent International CEO on Trump’s tariffs: We had to lay off 40 people
Kent International had lobbied the Trump administration for a five-year tariff waiver from President Trump’s tariffs but so far has not received it. Now, as a consequence of the tariffs, Kent International CEO Arnold Kamler told the FOX Business Network’s Liz Claman that after an initial small price increase late last year, “now we had to raise our prices an additional nine percent as of just a couple of days ago because of the latest change to the tariffs.”
According to Kamler, along with the price increases the company has been forced to lay off some employees as well.
“I was hoping not to but we’ve laid off about 35 people down in South Carolina and another five in our headquarters in New Jersey.”
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