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TAMPA, Fla. (WFLA) — Starting Saturday, all countries will see a minimum baseline tariff of 10% for all imports.
President Donald Trump also said, next week, reciprocal tariffs for major U.S. trade partners will begin.
The question remains, who will bear the cost?
Will it be the business owners that eat the cost? Will it be their employees that take the hit? Could the customers end up with the higher bill?
As we await answers, 8 On Your Side spoke with people from businesses across Tampa Bay to find out how they plan to handle the incoming tariffs.
One of them was Louis Pappas, a long-standing Greek restaurant with locations in Hillsborough, Pasco, Polk and Manatee counties.
Assistant Manager Mattie Philon said, “My first reaction is that we’re all going to have to pay more money for anything as a consumer and also as a vendor.”
Philon said their to-go bowls, for example, come from China. Now, she’s waiting to see the impact of these tariffs as her restaurant is already seeing the price of fresh ingredients rise.
“Tomatoes, cucumbers and all of that is going higher too, so now we have to put that onto the customers which is what we really don’t like to do,” she explained.
So we know the tariffs are coming but what exactly does that mean, and how could they impact people in Tampa Bay?
News Channel 8 went to USF Economics Instructor Michael Snipes to find out.
“As soon as that good comes onto American shores, and it’s an American good, that’s when the tax gets applied,” he explained. “That’s when the tariff gets applied.”
“This is not some sort of admission fee or a privilege fee that they pay to trade with us,” Snipes continued. “It is a tax that we have applied to ourselves.”
President Trump said a new tax on all foreign-made cars and parts began Thursday.
Giant Motor Cars General Manager Rami Saleh explained that even American-made cars have parts from other countries.
News Channel 8 Reporter Nicole Rogers walked up to one of the vehicles in Giant Motor Cars’ lot and asked, “OK, so take this car right here, Ford, everybody knows is made in America, but what are some parts that may not be from America?”
“The steering columns, the suspensions and door panels, hinges…,” Saleh responded.
We asked him how he feels about the tariffs.
“They’re trying to push the consumer to go U.S. made and that’s a beautiful thing,” he said. “I’m all for it.”
“It’s just, in reality it’s going to become — people are going to feel it,” he said.