Increased tariffs affect prices at local business

Increased tariffs affect prices at local business


(HE) THE ONGOING TRADE WAR– HAS ONE LOCAL BUSINESS FEELING THE IMPACT. (MM) THE TRUMP ADMINISTRATION HAS PROPOSED TARIFFS– SET TO KICK IN ON SEPTEMBER FIRST– ON EVERYTHING FROM APPAREL– TO ELECTRONICS. (HE) A POPULAR PROVIDENCE STORE SAYS VENDORS HAVE ALREADY TOLD THEM– PRICES WILL GO UP. EYEWITNESS NEWS REPORTER STEVE NIELSEN HEADED TO FROG AND TOAD–TO FIND OUT WHAT HAPPENS NEXT. (SN) FROG AND TOAD SAYS IT’S NOT JUST THEM…. THEIR WHOLE INDUSTRY IS FEELING THE INCREASE… WHICH EVENTUALLY THEY WORRY WILL BE PASSED ONTO YOU. IT’S BEEN A HALLMARK OF HOPE STREET IN PROVIDENCE FOR NEARLY TWENTY YEARS. each day is a new day with unexpected challenges. ASHER SCHOFIELD SAID WHEN HE STARTED PLACING ORDERS FOR ITEMS FOR HIS GIFT SHOP – FROG AND TOAD – FOR THE HOLIDAY SEASON…. HE REALIZED VENDORS MADE CHANGES. perhaps 60 percent of our vendors have reported that htey needed to increase the bpricing on items we have stocked previously. HE SAYS ITS THE RESULT OF THE TRADE WAR WITH CHINA. PRESIDENT TRUMP HAS INCREASED TARIFFS ON HUNDREDS OF BILLIONS OF DOLLARS WORTH OF GOODS FROM CHINA. CHINA HAS RESPONDED WITH TARIFFS OF THEIR OWN. SCHOFIELD SAYS THAT HAS SLOWLY MEANT A PRICE INCREASE OF HIM… AND THAT MEANS YOU TOO. its forcing us to have the decision do we absorb that cost in order to maintain the same pricing for our customers or do we have to increase the pricing for our custoemrs that i hate to do. FOR INSTANCE… THESE SMALL MUSIC BOXES HAVE BEEN A STAPLE OF THE STORE FOR 15 YEARS. HE SAID HE HAD TO INCREASE THE PRICE 25 CENTS TO COVER THE VENDORS NEW PRICE. in order to remain in business thtose are the sorts of hard decisions you have to make. (SN) SCHOFIELD SAID THAT IF THE TRADE WAR COMES TO AN END AND TARIFFS ARE LIFTED…. HE WORRIES THAT VENDORS MAY NOT LOWER PRICES BACK TO WHERE THEY WERE. PRESIDENT TRUMP TWEETED FRIDAY AN ADDITIONAL 5 PERCENT INCREASE ON TARRIFS WOULD BEGIN ON SOME GOODS FROM CHINA SEPTEMBER FIRST… AND OTHERS ON OCTOBER FIRST.

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About the Author: Oren Garnes

1 Comment

  1. Stop ! You either with us or against stop with fear and stop jumping the gun ride it out think of the farmers I pit had to be R.I βœŠπŸ‡ΊπŸ‡ΈπŸ˜Ž

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