I was talking with one of my clients on Friday who came in kinda gloating and poking about Trump winning and said, "so we're gonna have more money in our pocket now."
I started giving him real world scenario about the tariffs and how it would affect his business because Trump has said at least 20% on all imported goods and anywhere from 60% t0 100% on goods from China and 25% to 100% on goods from Mexico.
By the way... he owns a TexMex restaurant.
So I tell him this will most likely affect the price he pays on his cost of goods sold. Those are the ingredients he uses to make tacos and enchiladas. Distributors will most likely raise their prices due to the cost of maintaining their vehicles with imported parts and of course anything those companies import that my client buys.
ME: "Are you going to absorb 20%... 60%... 100% additional cost."
His eyes got big as you could almost hear the gears in his head starting to squeak and seize.
So then I say, "I assume you're going to raise the prices on your plates. And every business will be going through this and will raise the prices on whatever thing it sells. So Americans will be paying more for pretty much everything even if it's just a little... a buck here. three bucks there. Five bucks there... on everything. And then there are some things America simply can't produce... like coffee. What do you think will happen to the volume of customers to your restaurant?"
He said, "why did people vote for him?"
Yuh. I've been asking myself that for a solid week.
Wrenasaurus Tex :trans_heart:
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2024-11-12 17:42:53 UTC
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2024-11-12 17:42:53 UTCEvent JSON
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