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Detailed text transcripts for TV channel - CNN - 20190619:07:51:00

Cotton fiber that s grown somewhere in the world, often in the united states. the fiber is manufactured into a yarn. the yarn is then knitted into a fabric and the fabric, of course, is manufactured into a sweater. the piece goods cost and the cost of manufacture, which is referred to as cut neg and trim make up the first cost value of that sweater. that s the value that becomes taxed or becomes tariffed. the goods then have to be transported to the united states, and they go from a first cost at the point of manufacture to a landed cost, los angeles, long beach, wherever. is that another tariff? no, at which point the tariff is imposed and paid or the goods don t come through customs. right. the importer pays the freight. the importer pays the tariff. the tariff is paid to the u.s. treasury. and now the importer, a retailer or a brand, is faced with the conundrum of a substantial step up in the landed cost of that ....

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