A drone company that stands to be hit hard by Donald Trump's proposed tariffs surged in stocks Wednesday, reported NBC News — right after appointing Donald Trump Jr. to serve on their board.
"Unusual Machines, an Orlando, Florida-based firm born just two years ago as it acquired a drone manufacturer and a separate drone retailing firm, announced the appointment in an early-morning press release," reported Rob Wile and Dan Morgan. In a statement, CEO Allan Evans said, “Don Jr. joining our board of advisors provides us unique expertise we need as we bring drone component manufacturing back to America. He brings a wealth of experience and I look forward to his advice and role within the Company as we continue to build our business.”
Trump Jr., for his part, said in a statement, “The need for drones is obvious. It is also obvious that we must stop buying Chinese drones and Chinese drone parts. I love what Unusual Machines is doing to bring drone manufacturing jobs back to the USA and am excited to take on a bigger role in the movement.”
ALSO READ: Multiple Republicans reveal plan to boot Mike Johnson as speaker
This comes even though Unusual Machines has said in a regulatory filing they rely on Chinese parts for manufacturing and new tariffs would adversely impact their bottom line.
“If there are increased tariffs imposed, it could materially and adversely affect our business and results of operations.”
Trump has vowed massive new tariffs on China, as well as 25 percent tariffs on Mexico and Canada to try to force them to do more about border enforcement — even though Mexico has already ramped up border enforcement over the last year.
Economists have broadly warned that these tariffs could lead to a huge surge in consumer prices, as well as higher energy costs.
