US President Donald Trump’s tariffs on Chinese goods have reached 125%, sending shockwaves through local Asian markets in Baton Rouge. Store managers are uncertain about their future as imports from China and other countries become increasingly expensive.
Seoul Stop, a Korean convenience store, saw its wholesaler inform it that some products’ prices will rise by 15% due to the tariff uncertainty. The store’s general manager, Minho Kim, notes that they cannot adjust their in-store prices. “We just get supply from wholesalers or manufacturers, and it’s up to them whether they’ll adjust,” he says.
Vinh Phat Market, an Asian grocery store on Florida Boulevard, has already seen rising prices and a limited supply of certain goods from its wholesalers. Store manager Michael Thai fears that tariffs will put businesses out of commission. “It might put everybody out of business,” he says. “I don’t think anyone can afford what’s coming in.”
Source: https://www.businessreport.com/article/how-the-tariff-threat-is-impacting-local-asian-markets-and-convenience-stores