The fee turned up in September 2019, after Trump placed 25% tariffs on steel, and hasn’t gone away since.
So far, the tariffs in force under both White Houses have cost Americans $79 billion, the nonpartisan Tax Foundation estimated this summer.
The nation’s roughly 33 million small businesses employ nearly half the nation’s workers and generate more than 43% of the gross domestic product, the U.S. Chamber of Commerce estimates.
“Whether we like it or not, Asia is the bike manufacturing hub of the world,” said Zagata, who raised prices by between 18% and 22% after the Trump tariffs took hold.
San Diego-based entrepreneur Nichole MacDonald said profit margins for her patented, 10-pocket Sash Bag have been thinning in recent years as material and freight costs have jumped, and tariffs aren’t helping.
Persons:
Donald Trump, Chris Smith, Trump, hasn’t, Smith, ”, Biden, —, who’ve, Erica York, Julia Demaree Nikhinson, they’re, Jonathan Gold, Gold, “ they’ve, Ryan Zagata, Zagata, he’d, Felix Tintelnot, Trump’s, ” Trump, Brian Hughes, Nichole MacDonald
Organizations:
Virginia Beer Co, Constellation Brands, Corona, Trump, Foundation, Tax, National Retail Federation, U.S . Chamber, Commerce, Brooklyn Bicycle Co, GOP, Duke University, “
Locations:
Williamsburg , Virginia, U.S, China, Modelo, Mexico, New York City, Asia, York, Germany, Diego, India