President Trump’s administration has initiated tariffs on many items from many countries, causing the market to go up.
Montclair, a popular meeting spot for students after school is full of small businesses that will likely be hit with tariff inflation, causing prices to rise, and affecting the bougie lifestyles of Montera’s preppiest.
An increase in Montclair prices means anything from a cup of Starbucks to the cost of candy rising.
“It really depends on the politics,” Eric Kim stated in a recent interview. Kim is the owner of a popular, local Korean Deli and Groccery store. The grocery store imports up to 80% of goods and will likely be hit hard with raising tariffs. The price of Japanese products have already risen 15% and Chinese products up to 20%.
California’s Governor, Gavin Newson is attempting to strike a deal with other countries to exclude California from tariffs, offering to stop these price increases from affecting any goods imported to California. This is following the same strategy of our previous governor Edmund G. Brown Jr in 2016-2019 during Trump’s first term.
Trump gave exemptions on tariffs on phones and computers providing relief to tech companies like Apple and Microsoft. This will lessen the blow on the prices of our everyday electronics.
Tariffs are taxes on the provider of a product or service from a certain place. Despite most economists saying that tariffs are bad for the economy and encourage inflation, Trump exclaimed: “We’re gonna be a tariff nation!” when he learned the word tariff on word wall Wednesday at the capitol building.
An example of a tariff is: if you want your Mexican avocados that cost a dollar each and there’s a 40% tariff on Mexico you better cough up that money bud, ’cause your wallets are gonna take a hit for your avocado toast. This also affects the cost of school supplies, technology equipment and more. Tariffs cause general inflation to rise, making the costs of everyday items to inflate.
“Despite promises to cut spending during the campaign and his first few months in office, President Trump‘s federal government has spent more than $200 billion more in his first 100 days compared to the same time period last year,” reads a CBS Newsstory written by John Kelly, Nancy Cordes, and Julia Ingram.