Manufacturers moving production out of China while China is labeling goods as made in Vietnam
Home Depot’s suppliers are trying to head off some of the increased costs from rising tariffs by moving at least some of their production out of China, executives told investors Tuesday.Meanwhile, USA Today says:
“I’m not aware of a single supplier who was not moving some form of manufacturing outside of China,” said Ted Decker, executive vice president of merchandising. “So we have suppliers moving production to Taiwan, to Vietnam, to Thailand, Indonesia and even back into the United States.”
CEO Craig Menear said the tariffs on Chinese goods are projected to have a “cost impact” on U.S. sales of about 2%, or $2 billion. With suppliers moving at least some of their manufacturing outside of China, that reduces that impact by roughly one percentage point, executives said.