Deena Ghazarian’s company, Austere, faced significant financial strain due to tariffs imposed by the Trump administration. The recent increase in tariffs, now affecting a broader range of imports from China, poses ongoing challenges for US tech firms. Amid these tensions, business owners grapple with higher costs and potential consumer backlash against price increases.
In 2019, Deena Ghazarian faced significant challenges as her company, Austere, succumbed to unforeseen economic pressures stemming from the trade policies of President Donald Trump’s administration. After establishing partnerships with major US retailers, the sudden imposition of a 25% tariff on imports from China placed her business in jeopardy. This drastic cost increase was not anticipated and threatened the viability of her fledgling enterprise.
The impact of recent tariff increases on US businesses, particularly in the technology sector, is profound. Companies face rising import costs alongside consumer demands for affordable pricing. While some firms are adapting by diversifying supply chains, the overarching challenges remain, including retaliatory tariffs from other nations and potential market downturns. Entrepreneurs, like Ms. Ghazarian, are now focused on survival strategies in an uncertain economic climate.
Original Source: www.bbc.com
