Import tariffs squeeze small businesses here and elsewhere
EVERETT — During the winter holidays, Judy Matheson usually looks forward to the crush of shoppers.
But this year, the owner of J. Matheson Gifts, Kitchen & Gourmet in downtown Everett is worried: How will customers react if she has to raise prices next year?
About half the items the store sells are made in the U.S. The rest are imported.
Small businesses are “among those most vulnerable to the negative impact of tariffs,” according to the National Retail Federation, a nonprofit trade group.
In July, the Trump administration imposed tariffs on $250 billion in goods made in China. Tariffs on $200 billion of those items were scheduled to jump from 10 percent to 25 percent on January 1, but President Trump postponed the raise for 90 days while the two countries conduct trade talks.
Tariffs are putting the squeeze on the state’s business community, and small businesses in particular.
Since new tariffs were imposed, Washington businesses have paid an extra $100 million in tariffs, according to Trade Partnership, a Washington, D.C., economic consulting firm.
https://www.heraldnet.com/business/import-tariffs-squeeze-small-businesses-here-and-elsewhere/?utm_source=DAILY+HERALD&utm_campaign=2565d6d0f2-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_d81d073bb4-2565d6d0f2-228635337
