Businesses in San Francisco’s Chinatown worry over tariff impacts
SAN FRANCISCO (NBC, KYMA/KECY) - San Francisco's Chinatown merchants are raising concerns that President Trump's trade war could be worse for small businesses than the COVID-19 pandemic.
Several business owners say prices for many of the basics they import have skyrocketed.
Some say they're not even able to get various items because U.S. Customs hasn't finalized the tariff for goods that are already at our ports.
Chinatown business leaders say there is so much uncertainty, they may need to manage costs by cutting jobs or hours or raising prices.
"A lot of merchants telling me right now they have to mark up at least 40 to 50% on their merchandise," said Edward Siu with the Chinatown Merchants United Association of San Francisco.
