Think tariffs protect local businesses? Think again. U.S. companies like New Jersey-based Kent International are paying a steep price – literally – for bike parts imported from China, with 23% tariffs eating into their profits. \"The help we need is tariff relief,\" pleads board chairman Arnold Kamler, a bike industry veteran who says eliminating these fees could quintuple domestic growth.
Tech entrepreneur Deena Ghazarian cuts deeper: \"I’m the one paying these tariffs, not China.\" Her company Austere now swallows extra costs to avoid pricing themselves out of the market – a story echoed nationwide.
New data reveals 93% of tariff costs land on U.S. consumers’ shoulders, per Moody’s. That’s fewer restaurant outings, delayed home repairs, or skipped medical bills for families. Worse? The U.S.-China trade war reportedly cost 245,000 American jobs by 2021.
History warns us: 1930s protectionism sparked global retaliation, tanking trade and growth. Today’s tariffs risk repeating that cycle – making politicians look tough while workers and shoppers foot the bill.
\"The help we need is tariff relief,\" pleads board chairman Arnold Kamler, a bike industry veteran who says eliminating these fees could quintuple domestic growth.
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