Small businesses that import goods brace for steep price increases that they have to pass on to their customers
It’s just two days since Donald Trump launched his extraordinary tariff assault on the world in a bid to rebuild the US economy and roll back an era of globalization. But already shopkeepers are bracing for recession, and their customers spending less, as they prepare to increase prices.
“We’re going to have to put our prices up and people aren’t going to like it,” said Ian Anderson, store manager at Tea and Sympathy, a UK grocery store, restaurant and fish-and-chip shop stalwart in Manhattan’s West Village.
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