The Supreme Court's decision on tariffs has led to new measures and legal challenges, leaving small business owners like Jimmy Singh, owner of Las Vegas Souvenirs and Gifts, worried about rising costs and decreased customer spending. The administration's response involves a temporary global tariff, prompting concerns about further economic strain.
The Supreme Court struck down many of the sweeping tariffs last week, leaving more questions about the future of the U.S. economy. In response, the administration moved to recast those levies using a different law, allowing a temporary global tariff of up to 15%.
Critics say that the path could spark more legal challenges and uncertainty for small businesses.The president defended his approach, calling it key to strengthening the U.S. economy. But Las Vegas business owners say all the uncertainty has them worried.WATCH| Hailey Gravitt talks to the owner of a souvenir shop feeling the affects of tariffs Jimmy Singh owns Las Vegas Souvenirs and Gifts. Every item in his store, from t-shirts to key chains, is imported from China. With tariffs in place, Singh says his costs keep going up and customers are spending less.'Before they're spending like over $100 each customer. This year, they spent like $30 to $40. That's the average.' Singh said.RELATED STORY | These are the new tariffs Trump started after Supreme Court limited his authorityHe says he's now faced with a tough choice: raise prices for customers or absorb the losses himself.'I work myself a little longer to save my business,' Singh said.He compared the current business climate to the early days of the coronavirus pandemic, more than 5 years ago, when he had to shut his doors for a month. But Singh says this situation feels different.'This time it's nothing like the pandemic, some businesses sales were going up and others down. Now all businesses are in a slow down,' Singh said.He says the tariffs have driven up the cost of even his lowest-priced items.'Before it was $1 items, $2 items, like same items now are $5,' Singh said.He shared with me that the faster tariffs drop, the better it will be for everyone. He's hoping tonight's State of the Union address will bring clarity — and possibly relief — for small business owners like himself. The president has argued tariffs strengthen American manufacturing, but for Singh, the wait for possible change is already costing him.RELATED STORY | After Supreme Court loss, Trump’s revised tariffs estimated to cost households about $1,000 this year'I'm trying to drop the price. I need more customers. If they buy more items, then we get more customers, and they're buying more items too,' Singh said.Singh also wants to acknowledge that he understands everyone is having to cut back and hopes success will come to his business soon, telling me he hopes tariffs will drop, which will be good for business in the summertime when tourism is at its highest for his shop.This story was originally published by Hailey Gravitt with the Scripps News Group station in Cincinnati.
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