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Yahoo Finance Executive Editor Brian Sozzi sits down with Williams-Sonoma CEO Laura Alber (WSM) to discuss the impact of President Donald Trump's proposed tariffs on China and how the company is preparing.
With tariffs in focus, the CEO says that during the first Trump administration, the company reduced its China exposure to 25% from 50%.
"We're both moving away from China, but we're also working on improving our manufacturing in the United States and then in other countries," as Trump returns to the White House. "It's not a quick thing, which is why you have to be ahead of it. And so, you know, this has been a big initiative and I feel really prepared when this happens," Alber notes.
Amid concerns that tariffs could cause retailers to raise prices, Alber says, "There's always areas where we have incredible value, very innovative design, and we may raise prices." She explains, "There's also the reality that we have incredible vendor partners who will help meet us on the tariffs because they want to keep the business. So, there's a competitive nature to this."
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This post was written by Naomi Buchanan.