DENVER (KDVR) — As President Donald Trump’s administration rolls out and then delays some proposed tariffs, small business owners in the Denver Metro Area are starting to feel uncertainty, and are starting to come to terms with the impact the announcement may have on their livelihood.
Many say they are not sure what to expect.
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“Whether it be weather one day, or if the Nuggets make the playoffs or tariffs, uncertainty always has a big effect on our business,” said Masaru Torito, owner of Kokora Restaurant in Denver.
“We just don’t know what’s going to happen with these tariffs. One day they’re on, the next day they’re off. It might affect one product, but not another product. Do you buy extra? Do you hold off on buying? There’s a lot of decisions we have to make,” said Torito.
Trump announced a 125% tariff increase on Chinese goods Wednesday. It comes after he had already imposed reciprocal tariffs with China of at least 104% on goods. The move is impacting business owners like Torito who tries to buy local when he can.
“That doesn’t mean we can get everything from here. In particular, our take-out containers are from overseas in China,” Torito said. “You have to order six months ahead of time for supplies. Right now we don’t know what to do with our supply chain.”
Decisions have become a daily balancing act that trickles down to customers.
“It’s the small nuance things like ordering an extra beverage, adding an appetizer, some dessert onto the ticket,” said Torito. “Maybe they don’t do that this go around. Maybe they come to my restaurant once a month and maybe now they are going every two months. It’s small details.”
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Those small details have a huge impact on small businesses.
“I think it was a surprise, not only with me but with the stock market and almost everybody who is watching all the new developments,” said Kishore Kulkarni, Metropolitan State University professor of economics. “I think consumers are going to pay higher prices for Chinese imports and China is a really big exporter for us. 46% of our sports come from Canada, Mexico and China and China is the lead.”
He says he’s never seen anything like this in his 50 years in economics.
“A president single-handedly making decisions and sending good or bad signals to the country’s economy is unprecedented and there this is a very dynamic time for us to live in,” Kulkarni said.
Torito worries about the future of small businesses.