Katie Lobosco of CNN –
Minnesota-based Quality Bicycle Products — or QBP, as it’s known — has been trying to plan around President Donald Trump’s tariff threats for more than a year now.
But all its plans took another hit when Trump suddenly ratcheted up tariffs on Chinese-made goods, including bike helmets and locks. With growing anxiety over a US recession and softening sales across the bike industry, QBP — one of the biggest bike distributors in the US, employing about 750 across 20 states — decided to make some adjustments.
“We are really resistant to laying people off, but we’ll delay or defer hiring people. Departments that wanted to add staff and maybe asked for five more, they maybe got one,” said Matt Moore, QBP’s general counsel.