Bringing Jobs Back to USA Didn't Work For This Furniture Maker

©iStock/HAKINMHAN

TOV Furniture co-founder Bruce Krinsky closed a North Carolina factory after 10 months and cut about 45 jobs, returning production to Asia.

Krinsky lost $3 million trying to run the High Point plant, where high labor costs and lower efficiency made his $1,500 sofa unprofitable.

U.S. customs officials flagged 17 shipments from Krinsky’s Vietnam factory, demanding $135,000 in tariffs by claiming the goods should be considered made in China.

Key moment:  Around 2023, he sat down with his most important supplier, a husband-and-wife team in China producing 35% of his inventory.  Krinsky said that if Trump won again and tariffs on China skyrocketed, TOV Furniture would be screwed.

Great statement by Bruce:  “I came in really hoping that this administration would be really positive for business,” Krinsky said. “I wish they were more in touch with the reality of what is happening on the ground and what people really want.”

Read the entire article.  What a story!