Atlanta's Small Businesses Struggle as Trump's Tariffs Take Effect

ATLANTA - The effects of the tariffs implemented by President Donald Trump have sent ripples through not only the financial sector but also every aspect of society.

Ordinary people might soon notice the effects on common products.

Ray Mills, CEO of The Mills Academy childcare center, mentions that the price of his supplies has increased by almost a third, “nearly 30 percent,” he stated. This will certainly impact them right away.

Mills explains that the academy obtains numerous supplies from Mexico and Canada, both of which are trade partners currently facing significant tariffs. He mentioned they're discussing items like paper, pencils, and coloring books. Additionally, he noted that food costs have risen by as much as 15 percent due to these tariffs.

Saloni Firasta-Vastani, who serves as an associate professor of practice at Emory’s Goizueta Business School, suggests that consumers will experience the impact of increased prices due to tariffs.

Firasta-Vastani stated that you can expect an increase ranging from 20% to 30%. This will have broad effects on all imported goods in the US, including items like food, apparel, cars, wines and spirits, as well as furnishings.

Mills mentions that the sting has already started hurting. "Now, the expenses are being transferred to small enterprises such as mine," Mills stated. "Both small companies and people like me face severe impacts."

SEE ALSO:

• A bipartisan proposal aims to mandate congressional oversight and endorsement for imposing new tariffs.
• Car tariffs have been implemented: Here’s how this affects individuals purchasing a vehicle.
• Stellantis plans 900 temporary layoffs in US after Trump tariff announcement: report
• The Senate approves resolution to oppose Trump's tariffs on Canada
• "It's our time to thrive": Trump declares 10% minimum tariffs on goods coming from every nation.