STORY: As U.S. President Donald Trump trades tariff threats with Beijing, Chinese-American business owners in California say they’re feeling squeezed.
And importer Taylor Chao says that pain will be passed on to the restaurants and retailers that he sells ingredients to.
“Soy sauce, noodles, starch — this is basic consumer product. Day to day, they use a lot, a large volume. But you put up that much of a tax on it, that will jack up the price a lot.”
“Right now the tax is 54%. Once we run out of inventory, definitely, we’re going to raise the price 54%.”
Those higher prices are coming soon, with U.S. reciprocal tariffs taking effect this week.
And they may ratchet up even higher.
China responded to the tariffs with its own on U.S. imports last week.
Now Trump is threatening a new 50% tariff on goods from China on top of the 34% rolling in on Wednesday.
Danny Huang owns a small grocery store lined with imported noodles, sauces, garlic and ginger.
He says he’s getting ready to hike all their prices.
“After this week, we going to, we might going to increase the price for those products, those ingredients, the sauce. How much will depend how much will be going to increase the price for us.”
“You know, the tariffs increase, and then we’ll be like, you know, we need to make up that percentage after on the price.”
On Monday, Trump said on his Truth Social site he would begin talks with countries who have requested meetings about tariffs.
But not China, saying ‘all talks with China concerning their requested meetings with us will be terminated!’
On Tuesday morning, Beijing hit back, vowing not to bow to “blackmail” from the United States and that, “if the U.S. insists on having its way, China will fight to the end.”