Reading “Kanun,” a book on Albanian customs, Italian artist Genny Petrotta, 34, marveled at the practice of sworn virgins — a centuries-old tradition in which women declared themselves to be men so they could enjoy the same rights within the society that men enjoyed, though they did not considering themselves transgender.
The economic damage doesn’t just come from the cost of tariffs, but from the erratic way the president imposes them. For instance, the 145% China tariffs were just suspended for 90 days. Likewise, Trump has paused high taxes he slapped last month on imports from countries with which the United States runs trade deficits. Could those levies come back?Consumers are clearly fearful that the duties will boost prices, as consumer confidence surveys have plummeted since Trump began ramping up his tariff threats in February. The Conference Board’s consumer confidence index has
to its lowest level since the depths of the pandemic in May 2020.Trader Daniel Kryger works on the floor of the New York Stock Exchange on May 5, 2025. (AP Photo/Richard Drew, File)Trader Daniel Kryger works on the floor of the New York Stock Exchange on May 5, 2025. (AP Photo/Richard Drew, File)
Snowy Owl Coffee Roasters in Sandwich, Massachusetts, which imports beans from Brazil, Nicaragua, Burundi and other countries, is only now planning to raise its prices this week to cover the cost of the 10% tariffs. It plans to add 25 cents to 35 cents to the price for each cup.“Tariffs are increasing costs and they’re adding to a lot of uncertainty around the potential for a downturn,” said Shayna Ferullo, 44, co-owner of Snowy Owl. “We are looking closely at the year ahead with the goal of consolidating and operating really, really tightly.”
Ferullo will also have to pay much more than she budgeted to renovate her shop in Brewster, Massachusetts -- one of her three retail locations -- because the contractor has raised his estimate, partly due to tariffs on building supplies. She has already elected to not fill one job after an employee left and is looking at ways automation could help reduce her labor costs, though she hasn’t laid off any of her 35 employees.
Jared Hendricks, CEO of Village Lighting Co., last month halted shipments of supplies he gets from China – holiday storage bags, wreathes, holiday lights and garlands. Now that the U.S. and China have reached a truce, he’s trying to get the products to the United States in time for the holidays.Ferullo will also have to pay much more than she budgeted to renovate her shop in Brewster, Massachusetts -- one of her three retail locations -- because the contractor has raised his estimate, partly due to tariffs on building supplies. She has already elected to not fill one job after an employee left and is looking at ways automation could help reduce her labor costs, though she hasn’t laid off any of her 35 employees.
Jared Hendricks, CEO of Village Lighting Co., last month halted shipments of supplies he gets from China – holiday storage bags, wreathes, holiday lights and garlands. Now that the U.S. and China have reached a truce, he’s trying to get the products to the United States in time for the holidays.He estimates that it will take 10 to 20 days from China to the West Coast ports via ship and another 20 days to 40 days for the goods to go through U.S. Customs, then travel via Union Pacific Railways to his company in Utah. Given all the expected delays, Hendricks said he’s worried that his holiday décor won’t arrive by Sept. 1 when it should start appearing in stores.
Meanwhile, he’s figuring out how to foot a $1 million bill for the tariffs. He’s hoping he can cover the cost by raising prices 10% to 15%.In the meantime, he’s trying to secure a loan against his house to pay for the levies.