- Last week, President Donald Trump introduced the idea of tariffs on goods coming from China, Mexico and Canada.
- According to the White House website, President Trump planned to implement a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China. Energy resources from Canada will have a lower 10% tariff.
- Some of the new tariffs have been paused, including the proposed new tariffs against Mexico but in the meantime, local business owners like Trisha Koloski of Hob Nob Coffee Shop are preparing for possible financial strain.
- In the attached story, I spoke with Koloski and Vic Veda of the Michigan Retailers Association about the impact these tariffs could have on small businesses.
(The following is a transcription of the full broadcast story)
All week we've been covering President Trump's announcement of tariffs and what it means for businesses and consumers.
I'm your Lansing neighborhood reporter Asya Lawrence here with one coffee shop owner right here in Lansing is already preparing the for possible effects these tariffs will have on her business.
After working for a major coffee company, Trisha Kosloski never imagined that one day she would own a coffee shop of her own.
"When my boss retired from his lobbyist job upstairs, he offered to sell it to me and I scraped together the funds through friends and family as much as possible and decided to just got for it," she said.
She owns Hob Nob in Downtown Lansing. As a small business owner, there are a lot of things Trisha has to worry about.
"You have to go through and do your price matrices and figure out all of your vendors which I have more than one," Kosloski said.
But one thing she didn't anticipate worrying about was tariffs.
Last week President Donald Trump introduced the idea of tariffs on goods coming from some countries outside the United States.
It’s something that Vic Veda from the Michigan Retailers Association, says could have a major financial impact on local businesses.
"The cost of getting goods from overseas and international trading partners will go up and we're concerned those expenses will be passed onto the consumers," Veda said.
Businesses owners like Trisha rely on their shipments of items like coffee beans and could see extra costs and to be as transparent as possible , Trisha put up a sign making customers aware that she will be raising her prices due to inflation and the uncertainty around the future of tarrifs.
"The second my roasters started telling me what the cost rises were going to be on their end were going to be there was no stopping it from affecting my customers" Kosloski said.
Some of the new tariffs have been paused, including the proposed new tariffs against Mexico. but in the meantime, small business owners like Trisha say they're staying on their toes and finding any way to cut cost but she’s still remembering the struggle that customers can face.
"I know not everybody here is going to be able to afford the price increase so I did add a little addendum in here that says if you're struggling but still want to support us talk to me and we'll work it out" Koloski said.
Want to see more local news? Visit the FOX47News Website.
Stay in touch with us anytime, anywhere.
Sign up for newsletters emailed to your inbox.
Select from these options: Neighborhood News, Breaking News, Severe Weather, School Closings, Daily Headlines, and Daily Forecasts.
