WACO, Texas (KXXV) — President Trump has proposed tariffs on Canada, Mexico and China.
25 News talked to local restaurants and bars, and they said they’re worried about the future. President Trump proposed a 25% tariff on Chinese and Canadian goods and a 10% tariff on Chinese goods.
This is a political move to prompt those countries to beef up security at their borders to prevent illegal immigrants and drug trafficking into our country.
Mexico and Canada delayed the tariffs by 30 days by promising to secure the border.
One restaurant owner said they’re just now rebounding from the pandemic, so they worry about the future.
Restaurant owner Kevin Rhodes said, "We’re getting pressure from the bottom already with higher prices and from the top wanting lower costs, it just keeps getting compacted, so for the customers, just know if you want us to stay in business, work with us.”
Other restaurants that didn’t want to be on camera told 25 News that they didn’t know whether to make new menus, raise prices, or take the hit on the chin.
Some alcohol distributors said they are concerned about the potential tariffs on Mexico.
Liquor Distributor Amar Hareng said, "We don’t know yet what the ripple effect will be until we see the new prices generated. The bottom line is the cost will be added to the end buyers.”
The Texas Farm Bureau said in a statement, “Texas farmers and ranchers anticipated the Trump administration would utilize tariffs as an economic tool. Tariffs were imposed during the first Trump administration. There are concerns that tariffs may increase the cost of some agricultural inputs in the U.S. Higher production costs are very difficult to absorb. Profit margins in many agriculture sectors are currently extremely thin or non-existent, and higher production costs cannot be passed on to the consumer. The Trump administration supports U.S. agriculture, and Texas Farm Bureau trusts the administration will protect the interests of farm and ranch families as it makes economic decisions.”
As for the tariffs on China, there was no deal made, and that prompted retaliatory tariffs on the U.S.
