Small businesses that import goods brace for steep price increases that they have to pass on to their customers

As tariffs imposed during the Trump administration continue to ripple through the economy, small business owners in New York are feeling the pressure—and many are warning of looming ‘astronomical’ price hikes that could impact consumers and the local community.

Shopkeepers across New York, from boutique retailers to importers, have voiced their concerns about the escalating costs of goods due to recent tariffs on imports, particularly from countries like China. These additional tariffs, designed to protect domestic industries, have instead placed a heavy financial burden on small businesses that rely heavily on imported products.

One shop owner explained, “We’re facing skyrocketing costs for inventory. To stay afloat, we’re considering passing some of those costs onto customers, which could mean major price increases—some say ‘astronomical’—that will be hard for our customers to afford.”

Many small business owners fear that these price hikes will lead to a decrease in sales, as consumers become hesitant to spend more on everyday goods. This could, in turn, threaten the viability of local shops and the unique charm they bring to New York’s neighborhoods.

“People come to us because they want quality and personalized service,” said a local retailer. “But if prices continue to rise dramatically, we might have to compromise on what we offer or even shut our doors.”

The phrase ‘scary times’ resonates with many local shopkeepers who feel caught in an economic storm beyond their control. They worry that escalating tariffs are creating an uncertain future for small businesses that form the backbone of New York’s vibrant economy.

Some are exploring alternative sourcing options or trying to absorb the costs temporarily, but with mounting expenses, many fear that drastic price increases are inevitable.