Why Some Businesses are Worried About Trump's Import Tariffs

Los Angeles, USASat Nov 16 2024
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Look around your house, you'll spot plenty of things Made in China or elsewhere abroad. But now, imagine paying much more for these items. That's what might happen with President Trump's proposed tariffs on imports. Bobby Djavaheri, who runs Yedi Houseware Appliances in Los Angeles, is worried. He thinks the cost of his company's popular air fryer could jump from $130 to $200 if these tariffs go into effect. He's not alone; many small businesses could struggle. Bobby has been stocking up, hoping to avoid the worst. He thinks Trump's plan would mean big trouble for companies that rely on importing goods. The U. S. government would send the bill to businesses like his, not the Chinese companies that supply the products.
Brian Peck, a USC professor, says these tariffs could be a bargaining tool. He explains that the cost will hit U. S. consumers in the wallet. A study from August warned that middle-income families could be hurt the most, potentially losing over $2, 600 a year. Yedi's air fryers and other products aren't easily made in the U. S. right now. Bobby notes that finding a factory in America capable of making hundreds of thousands of high-quality air fryers is tricky. He advises people to shop now, before higher prices might hit. It's clear that these tariffs could reshape how we buy and sell goods and affect many small businesses.
https://localnews.ai/article/why-some-businesses-are-worried-about-trumps-import-tariffs-2a17a931

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