There was no time to rest. With American companies facing the threat of punishing tariffs from China, Jeff Bowman started selling fast.
That day, Bowman’s company, Cocona, decided to sell off its entire China reserve of its core product – a sweat-drying additive that treats the yarn used in fabrics for some of the world’s top clothing brands.
Massive sacks of bead-like pellets – comprising a “masterbatch” of additives – had been sitting in a Shanghai free-trade zone, untouched until then by Chinese customs, for eventual sale in China.
For Bowman, it made more sense to sell it all at once – giving buyers a supply that will last nine to 12 months – before tariffs skyrocketed.
“We just emptied out the warehouse,” said Bowman, 72, a veteran of the US clothing materials industry who has been with Corona for 13 years. “We could have sold three times that, because Chinese customers have no better idea than we do about what’s going to happen.
“I don’t have any confidence in the competence of the [US] administration,” he said.
