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Trump Tariff Hike Hitting Numerous Smaller Businesses

When it comes to small American Businesses, Trump hit the nail on the head and sunk it in even deeper with companies that create more than a million American-made goods, simply because they get their materials from China. Even microbreweries and other popular beer brewers in America get some of their materials from China, since it has been the leader for years as one of our major sources of imports. His latest round of tariffs in the trade war reached an all-time high on Friday, Aug 23, 2019.

Of course the trade war started a long time ago (over a whole year ago), the last rounds of imports have been affecting numerous monetary and financial issues that most consumers don’t even think about.

Some companies received a reprieve until the middle of December so they could avoid those higher taxes until the holiday shopping season, but many of the major manufacturers affected will be facing higher taxes starting around September first, right before labor day.

Trump stated that he was ordering companies to find an alternative to China and have their products made in the united states. He also raised the tax rate on Chinese imports an entire five percent, making the taxes now cost 15 percent of our three hundred dollars in response to China imposing their own tariffs on our exports up to 75 billion dollars’ worth of goods.

So how did something as simple as beer get affected? Well, as Adrian Sawczuk, owner with his wife, of the company called Tidal Creek Brewhouse located in Myrtle Beach, South Carolina has pointed out that machinery used in brewing and micro brewing beer is commonly made and imported from China. This means that just to get a $300,000 brew equipment kit to start a business is now being taxed 15 percent, making it cost $345,000 just because it’s from China, let alone the shipping costs and other transport and customs issues someone would face as well, making one America’s pastimes even more expensive.

About author

Money is a very powerful thing, and while it’s not what makes people happy, it’s definitely something that many people need in order to strive and survive.
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