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International Business Times
International Business Times
World

'Stop Production': Small US Firms Battered By Shifting Tariffs

Donald Trump United States Cambodia
On April 2, US President Donald Trump, with Commerce Secretary Howard Lutnick beside him, unveiled sweeping tariffs on almost all trading partners (Credit: AFP)

When US President Donald Trump announced tariffs on almost all trading partners in April, Ben Knepler contacted the factory in Cambodia producing his company's outdoor furniture. "Stop production," he ordered.

The announcement involved a 10-percent levy on imports from most partners, set to rise further for many of them. For Cambodia, the planned duty was a staggering 49 percent.

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