Chinatown Grocers, Investors Fear Economic Fallout from Trump's Tariffs

Business owners in various sectors are expressing deep concern over the impact of the Trump administration's steep tariffs on imported goods, particularly those from China. In Manhattan's Chinatown, local businesses fear these tariffs could threaten their livelihoods, as many rely heavily on imports for their products. Similarly, Long Island's independent grocery stores are struggling to cope with rising costs, with some owners indicating they may have to increase prices or risk losing customers. The tariffs have also led to the introduction of surcharge fees on consumer products, reflecting the broader economic strain. Experts warn that while larger companies might absorb some costs, small businesses could face devastating consequences, including potential closures. Economists predict that the burden of these tariffs will ultimately fall on consumers, exacerbating economic inequalities.