Who's paying for the tariffs: French manufacturer to expand into markets like China

The United States is a significant overseas market for the French furniture manufacturer Fermob. With the increase in tariffs on the EU, this century-old manufacturer is contending with rising prices and declining profits. Bernard Reybier, president of Fermob, told CGTN that a chair that once sold for $150 now needs to be priced at $175 in the U.S. He mentioned they are thinking about reducing sales to the U.S. and shifting their market focus towards Australia and Asia. At the same time, Bernard Reybier hopes to strengthen efforts to expand into the Chinese market. He expects a swift easing of U.S.-China relations, as this would not only benefit him but also be advantageous for businesses and consumers in both the EU and the U.S.