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“Small businesses around the country say they are bracing for the latest round of tariffs, which could cut into already-thin profits and leave them with little recourse but to pass on additional costs to consumers beginning this holiday season. And while larger retailers such as Walmart, JC Penney and Amazon say they have already locked in low-priced inventory for the holidays, independent retailers tend to rely on third-party suppliers to import products for them, giving them little control over where their goods come from, or how much they cost.”
“Ken Kieran, owner of Union Farm Equipment in Union, Maine, says inventory costs have already risen substantially in recent months following a 25 percent tariff on steel imports. The price of a popular Chinese-made utility vehicle, for example, has risen $1,700 to $12,999 since March. Now he’s expecting another round of ‘across-the-board’ increases, although he says it’s unclear just how much prices will rise in coming weeks.”
