KENNEWICK,WA - Tuesday morning President Donald Trump announced a delay for new tariffs on Chinese imports until December 15th. Most of those tariffs impact electronics and toys.
After hearing this announcement, Mike Clemons, the manager of Performance Auto Sound, breathed a sigh of relief because according to him the tariffs are already impacting his business.
"Our cost on our products has gone up approximately 10 percent," said Clemons. "Some manufacturers have absorbed some of that cost and others have passed it along to us."
That extra cost has made an impact in pricing. Now some items such as speakers are priced at what they were years ago.
"The cost of these goods have gone down over the last 10 to 20 years," said Clemons. "It is really more like a price adjustment not necessarily an increase, some of these decreases that we have seen are just going away."
Clemons isn't worried about businesses like the one he works at going out of business. According to him, being able to adjust to economic adversities like these are one of the advantages at a store like his.
"I definitely don't see that happening, that's one of the advantages of being a smaller retailer versus a big box store," said Clemons. "We are able to make adjustments within our store on an as-need basis."