Full effects of tariffs still unknown despite rising prices
ELLY GRIMM
• Leader & Times
Shoppers are noticing higher prices at their local stores, and the effects could last for a while, according to experts.
“As everyone knows, prices are going up, and recent tariffs are to blame. From coffee to furniture, tariffs are forcing companies to raise their prices to offset the costs of tariffs, and shoppers are the ones paying the price,” OEC Group Sales Supervisor Joseph Firrincieli said. “Many companies rushed in inventory to beat the tariffs, but those supplies are now running out. Everything in regard to this trade war is changing on a pretty frequent basis, but the main trend I'm seeing is a lot of ups and downs when it comes to import volume – for example, if there's a suspension on a tariff that's set to expire on a certain date, we will then see a surge of imports because shippers will want to bring in as much as they can before the suspension is lifted and then things go back to whatever it's supposed to be. Then, once that happens, there's typically a lull in that activity and there won't be as many imports because shippers don't want to pay those tariffs. It's very dependent on the commodity and country of origin, but for the most part, imports seem to be going up when shippers are trying to take advantage of the lack of tariffs prior to any increase(s) that go through. I can't say there's any one thing in particular since there are so many, but with the initial 145-day suspension that was put in place, we saw a lot of imports there and shippers bringing in as much as possible before that was lifted. That's the main trend we're currently seeing, but things are changing so much that it's difficult to fully keep up with everything.”


