Contemplating smoking your way out of the tariff gloom? Think again.
Sweeping tariffs imposed by U.S. President Donald Trump on Wednesday are set to increase prices of cannabis products in the country, as many firms rely on Asia for manufacturing. The latest levies will stack up on any duties imposed earlier on countries like China, Canada, Mexico and the EU.
Items such as tins, vape hardware and specialized glass remain difficult to source domestically, and companies remain largely dependent on Asia particularly China, analysts and executives said.
"Those relying on exports from nations with tariffs, such as China, will need to take a serious look at how they might absorb the extra costs or alter partnerships," said Bryan Gerber, CEO of Hara Supply, the world's largest manufacturer of cones and combustibles.
Read more at Reuters