“I feel like we’re very well prepared for this,” he told FOX Business’ Liz Claman on “The Claman Countdown.”
“If the tariffs do go into effect … either our suppliers are going to absorb the additional costs, so we’ll simply get lower prices or we’ll add a small surcharge to our prices.”
Earlier this month, President Trump threatened to impose a 10 percent tariff on $300 billion worth of Chinese goods, which are scheduled to go into effect on Sept. 1.
Schottenstein said he wasn’t concerned about the tariffs because his products were already priced lower than they should be.
“We’re already offering a product that, let’s say $29.95 or $39.95 depending on which line you’re purchasing, that really already should be priced $75 to $100 at the very least.”