Small businesses are in for a rough adjustment if the GOP’s border adjustment tax goes through. Ledbury, a small clothing company based in Richmond, Virginia is no exception. CNBC’s Squawk Box was on the scene to hear their side of the story. Ledbury only manufactures 2% of its inventory in the US – the other 98% is manufactured in Europe. Paul Trible, CEO, walked us around his store and talked about what the border adjustment tax means for him and his company. The adjustment would mean a 20% tax on imports. That means they’d have to raise prices significantly, cut workers hours and may even have to lay off some employees. |
CNBC wanted to capture the full interview, a walk and talk, and B-roll of people working and sewing. Check out the full story here! |
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