How 10% tariffs will impact Syracuse import store
SYRACUSE, N.Y. (WSYR-TV) — A 10% baseline tariff will still apply to countries across the board, after President Trump announced a 90-day pause on the higher tariffs for most countries on Wednesday. Import stores are still worried about the impact tariffs will have on their business, including Thanos Import Market on Syracuse's North Side.
The locally family-owned market sells a variety of European-Mediterranean items.
'Anything from olive oil, cheeses, to cold cuts and different grocery products of different pastas, sauces, things like that,' said Joe Carni, owner of Thanos Import Market.
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With nearly half of the store's items imported from European Countries.
'There are a lot of people, that in their lifetime may never get to go to Italy, Greece, France, Spain for vacation and taste the culture. We try and bring that here at an affordable price,' said Carni.
However, Carni says it can be costly. He's already having to pay fees for imported goods. But soon, he'll have to pay more, with President Trump's 10% tariffs expected to send prices soaring.
'The concern is the cost to our customers, kind of trying to make sure that we're able to stay in business and give customers a product at a fair cost,' said Carni.
One area shoppers will notice higher prices is on the olive oil shelf. Carni says between droughts and the tariffs, prices have increased about 20 to 30 percent.
'What it costs us, I try not to pass all of that onto the customer,' said Carni.
But, everything could change in an instant.
For now, Carni is waiting to see how the tariffs impact prices.
'It's you know the business, you're working with your margins. But you want to make sure that you're not losing customers, because you price yourself out of someone being able to come in and shop,' said Carni.
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