Mike King, owner of Moneta Market, sources steel components for his micro-market vending machines from China. Despite Trump’s tariffs on Chinese steel, King finds it more cost-effective to import from China than to source domestically. He initially considered American manufacturing but faced challenges in communication and efficiency. Currently operating about 350 micro-markets, King believes that U.S. tariffs still wouldn't deter his sourcing decisions, as the pricing differential remains significant.
Overall, the 25% tariffs on steel and 20% on imports from China haven’t made sourcing steel in the U.S. any more attractive for me.
Four years ago, I thought of sourcing from the U.S. but found it overwhelming to communicate and deal with American manufacturers.
We operate around 350 micro-markets, which have better profit margins, and all point-of-sale systems are manufactured in China.
Even with added tariffs, it seems that U.S. manufacturing can’t realistically compete in pricing and efficiency with what I find in China.
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