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I was a a local but well known and long established small business and they had sign displayed that said that because of Tariffs, the following items are going up 10% and proceeded to list imported items like coffee, tea, lox, etc…
tick, tick, tick…
the time is coming. Larger businesses and wholesalers stocked up on foreign goods to avoid tariffs until late in this year. Those inventories are running out…time to restock. And then the 30% will be felt…
and it won’t just be the foreign imports. Domestic producers will increase their prices because, well, they can if the imports have to do so. If my foreign competition is more expensive, I can raise my prices to match those prices.
September and October could be really expensive, not to mention Christmas…