Latest news with #Pavone
NBC News
9 hours ago
- Business
- NBC News
How a high heel entrepreneur is handling tariffs before the other shoe drops
Checkbook Chronicles Haley Pavone testified to Congress that tariffs are crushing small-business owners' American dream. June 21, 2025, 5:07 AM EDT By Kayla Steinberg Haley Pavone thought this was going to be the biggest and best year yet for her footwear company. Based in Southern California, she had big dreams for Pashion Footwear, the online business she started as a 20-year-old college junior that sells high heels that convert into flats. Instead, she found herself imploring lawmakers for help as tariffs threaten to cripple her company. 'We went from duty-free status to paying actually 190% on average overnight,' Pavone told NBC News. In the months since President Donald Trump took office, the trade war has swung wildly back and forth. Tariff rates have, at times, changed suddenly and dramatically as U.S. officials seek deals with other countries. It has ensnared business owners like Pavone in a battle they didn't choose, as they struggle to plan for a future they can't clearly see. 'It has been chaos to say the least,' she said. 'It feels like small businesses are either being intentionally attacked or being completely forgotten. And I don't know which one is worse.' Business breakdown Pashion Footwear was born out of Pavone's own struggles with high heels. She loved wearing them but hated the inevitable pain that came with being hours on her feet. So in 2016, she founded Pashion. 'It's the biggest love-hate relationship in women's closets,' she said. 'And we're trying to change that.' Pavone's company has grown to employ 12 and has patents in the United States, China and the European Union. for its sole-support technology. And last year, Pashion made $9 million in gross revenue, up 88% from 2023. Pavone attributes much of that success to social media. She and the company have more than 2 million followers combined across TikTok and Instagram, with posts showing an array of heels transforming into flats with a quick twist and press. Tariff troubles For Pavone's small business, it has never been easy: between Trump's first trade war with China and then the pandemic — plus the ensuing supply chain crisis and recession. Pavone said this year she had expected her business to grow 150%, planned to hire several employees and was looking into wholesale. But then Trump eliminated the 'de minimis' exemption, which allowed items from China valued at $800 or less to come into the U.S. duty-free. The change took effect May 2. 'We went from making about 19-20% per shoe after all of our operating expenses to actually losing about $40 per shoe,' Pavone said. The Walnut Knit Booties that used to make the company $43.70 per pair, she said, turned into a $41.16 loss. After the U.S. and China agreed to a 90-day tariff pause, Pashion was left with tariffs of 36% to 75% on each product. The company has paid more than $50,000 in tariffs to U.S. Customs and Border Protection since the May 2 change. The company's shoes are manufactured in China, and Pavone said they can't be made elsewhere — though it's not for lack of trying. 'I've tried talking to manufacturers in Vietnam, Brazil, India and even one very small factory I was able to find in the U.S.,' she said. 'All of them have unanimously said that China is the only supply chain currently that can do what we need at scale.' And Pashion was hit hard by another rule change. Earlier this year, it qualified for and signed a $5 million loan from the Small Business Administration. Pavone planned to use that money to buy Pashion out of predatory debt it took on to survive the pandemic, invest in hiring and buy more inventory. But the Trump administration changed the qualifications to receive the funding, now requiring all shareholders to be U.S. citizens — and Pavone said her company raised 1.7% of its funding from international investors. The loan was pulled. 'We feel completely ignored, and we also feel completely out of control,' she said. 'It basically feels like we're just waiting for the other shoe to drop every second of the day.' Taking action The changes and uncertainty have dashed Pavone's big dreams for the year. She said she slashed inventory orders from $1 million for the fall and $1.5 million for the holidays to around $300,000 each, wanting to keep her budget open to assume tariff liability. 'This went from being a growth year to a year where we're really just trying to make ends meet and stay afloat,' she said. To handle the increased costs, the company added a tariff tax averaging $15 to $25 per product when U.S. customers check out. Demand from U.S. consumers has since dropped around 30%, Pavone said. 'There's plenty of customers where even though they understand what we're doing, they're now priced out of what they can pay, so they can't buy,' she said. She shared her frustrations on TikTok, breaking down for her followers exactly how tariffs are affecting the business. And at a hearing in May, Pavone explained to lawmakers just how painful the changes have been. 'Every day that these trade policies continue, it means the death of more American dreams,' she told lawmakers. 'This is not a short-term pain. This is the destruction of livelihoods, both for entrepreneurs and those they employ.' Pavone hopes her testimony could help lawmakers push for relief. 'No matter what happens, I at least know that I've fought as hard as anyone possibly could,' she said. Kayla Steinberg Kayla Steinberg is a producer at NBC News covering business and the economy.
Yahoo
04-06-2025
- Business
- Yahoo
Grandview carpenter's tools, trailer stolen outside his home
GRANDVIEW, Mo. — A man's livelihood turned upside down after he said a thief stole his enclosed trailer and thousands of dollars' worth of equipment inside. Kyle Hudson said a thief stole his Milwaukee tools and trailer, totaling to about $10,000. Lee's Summit police officer injured in shooting released from hospital He said it happened right outside their home on May 20, just after 4 p.m. 'I'm thinking it really can't be real, but it really is real,' Hudson said. Hudson got home to find his enclosed trailer — gone, along with tools he uses for work. 'And there it goes,' Hudson said watching his home surveillance footage. Caught on camera, you can see the wheels of the vehicle, but not the thief's face. Hudson's is a carpenter he stored all his saws, nail guns, ladders and materials for upcoming projects in the trailer. 'Fortunately, it was material I had purchased,' Hudson said. 'They hadn't paid the deposit on anything. So, it's really me out money.' View the latest Weather Alerts in the Kansas City region on FOX4 Between material and equipment, he's out about $6,500. 'That breaks my heart for him,' Girlfriend Ashley Pavone said, 'because I know that's so much money.' While Pavone admits the trailer wasn't registered, Hudson said it was worth about $4,000. Plus, it's been customized. 'The front has aluminum tread plate about 2′ high back to the end of the radius on the nose. FOX4 asked Master Patrol Officer Brandon Eitel the best way protect your property so something like this doesn't happen to you. 'For trailers, they make hitch locks,' Eitel said. 'They make locks for the outside of the trailer itself and then they also make wheel locks that they put on for things like parking tickets or traffic violations.' Hudson trailer was parked on the street outside their home, near skyline and Grandview. Pavone said it only took minutes for a man in a dark colored truck to pull up and drive off with Hudson's livelihood hitched to the back. 'The craziest part of it, I think is, if a guy came up to him and asked him for a job, he probably would've given him a job,' Pavone said. 'Instead, he took his livelihood away.' Hudson said without his tools, he's been forced to decline projects. 'A couple projects are getting me thru to the next project,' Hudson said. 'Even the smallest projects are hard to do without a toolbelt or ladder.' Pavone posted on social media and printed flyers, searching for different camera angles of the theft. Download the FOX4 News app on iPhone and Android They're hoping the trailer and tools are returned. Pavone said they're offering a reward for any information leading to an arrest and the return of the tools and trailer. Hudson filed a police report. Grandview police said they'll look into it. Hudson is offering a $500 reward for the recovery of his tools and trailer. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
17-05-2025
- Business
- Business Insider
Trump's 90-day tariff pause with China is too little, too late for some small businesses
Small business owners told BI that a 90-day trade deal with China doesn't let them plan confidently. Some aren't sure what taxes existing orders will face and feel like they're "gambling." The uncertainty of the short window has caused some to pause expansion plans. When tariffs on Chinese imports dropped from 145% to 30%, Connor Alexander hit print on a new board game that he's publishing. If he's lucky, the game will be ready to ship in 60 days and arrive in the US a couple weeks later. By that point, tariffs could be back up. "This pause on the tariffs doesn't really help me. In fact, it just kind of terrifies me, because we're in a situation where 90 days from now is the earliest my stuff could be hitting the port," Alexander, a 54-year old board game publisher in Seattle, Washington, told Business Insider."If that pause goes back to 145%, if it gets turned off, I'm out of business. I'm done." Under the most recent trade agreement with China, the US lowered tariffs on Chinese goods to 30%. The agreement lasts for 90 days and it's unclear what will happen after it expires. Kush Desai, a spokesman for the White House, said in a statement that "the Trump administration is committed to restoring American Greatness with an America First economic agenda of negotiating balanced trade deals, cutting regulations, unleashing energy, and streamlining our government." BI spoke with four small business owners about the new trade deal. They said they're glad that the tariffs were lowered, but that 90 days is not long enough to make decisions confidently — now, business feels like a guessing game. Racing against the clock When tariffs were at 145%, Alexander said he'd paused production on two projects for his company Coyote and Crow Games, which produces board and card games that represent the Indigenous community. He decided to green light both games when the trade deal went into effect, partly because he'd already sunk years and money into them. Yet Alexander isn't sure that he'll be able to take advantage of the new rates, which are significantly higher than before the trade war began. Under the fastest circumstances, 90 days may not be long enough to get his game that's currently being printed in China to the US, especially with potential shipping delays. He has no idea what taxes he'll end up paying on the game when it arrives. Haley Pavone, the 29-year-old founder and CEO of Pashion Footwear, which makes convertible heels, called the trade deal "a mix of relief, but also frustration." "If I could make a shoe in 10 minutes, I'd be stockpiling right now, but they take four months to make and this is only a 90 day reprieve," Pavone said. "It's not enough time to make any kind of change other than continuing to play it safe." Her summer shoes have arrived and fall products are in production, but she said she hasn't placed her holiday order yet. Pavone said that her fall shoes should arrive in August, but she doesn't know what taxes she'll pay on them. "It's anyone's guess," she said. Hugo Ramirez, 42, told BI he typically buys all of his nonperishables from China for Frio Mexican Treats, an ice cream and churro shop in Appleton, Wisconsin that features flavors from his hometown of Chihuahua, Mexico. When 145% tariffs were in effect he paused all of his orders from China and started buying from US manufacturers instead, but the materials were more expensive and not customized. For Jessica Kim, the 34-year-old owner of Mycha LA and Chicago, a company that operates vending machines for boba and specialty teas, the 90-day window offered a brief opportunity to receive a shipment, but no chance for long-term planning. She sources all of her vending machines, non-perishables, and a few specialty tea leaves from China. An order of 10 machines that was meant to arrive in February was delayed and was only ready to be shipped at the end of April. Kim paused the order, though, because of the 145% tariffs in place at the time. When the taxes dropped to 30%, she approved the delivery, and the machines are scheduled to arrive by mid-June. "I was trying to time it, almost like gambling," she told BI. 'Guessing game' Alexander told BI he's anticipating a $10 to $20 price hike on his games if tariffs stay at 30%, but he can't accurately predict costs. "I've already had to tell my customer base, 'I don't know what I'm going to have to charge you in the long run. I'll know when that inventory gets here,'" Alexander said. "I'm taking a chance. I'm gambling on my business." Pavone said she has no choice but to remain "as cautious and risk-averse as possible," which will likely impact her supply and pricing long-term. "While we're trying to put that budget together, we're having to play a guessing game of what happens at the end of the 90 days," she said about her holiday order. Pavone has also been impacted by President Donald Trump closing the de minimis loophole, which allowed shipments under $800 to avoid import taxes. To cope, she's raised prices on her products and attached a tariff tax to US orders, so consumers can see how much more they're paying. Prices haven't changed for her international customers. Expansions paused in their tracks Pavone said she had planned to grow her staff — she had an offer letter out but has rescinded it. Ramirez said he's also stopped thinking about expansion because it would mean having to buy new machines from China. So far, he said he's managed to keep prices stable on core orders, like a single scoop, but raised the cost of premium items. He said he doesn't want to play the blame game, and is instead focused on solutions, but he's unsure of the upside of the tariffs. "If they're going to fix the current markets and help us small businesses grow, I'm all for it," he said of the Trump team. "But as far as what I can see, this is what my experience is."
Business Insider
17-05-2025
- Business
- Business Insider
Trump's 90-day tariff pause with China is too little, too late for some US small businesses
Small business owners told BI that a 90-day trade deal with China doesn't let them plan confidently. Some aren't sure what taxes existing orders will face and feel like they're "gambling." The uncertainty of the short window has caused some to pause expansion plans. When tariffs on Chinese imports dropped from 145% to 30%, Connor Alexander hit print on a new board game that he's publishing. If he's lucky, the game will be ready to ship in 60 days and arrive in the US a couple weeks later. By that point, tariffs could be back up. "This pause on the tariffs doesn't really help me. In fact, it just kind of terrifies me, because we're in a situation where 90 days from now is the earliest my stuff could be hitting the port," Alexander, a 54-year old board game publisher in Seattle, Washington, told Business Insider."If that pause goes back to 145%, if it gets turned off, I'm out of business. I'm done." Under the most recent trade agreement with China, the US lowered tariffs on Chinese goods to 30%. The agreement lasts for 90 days and it's unclear what will happen after it expires. Kush Desai, a spokesman for the White House, said in a statement that "the Trump administration is committed to restoring American Greatness with an America First economic agenda of negotiating balanced trade deals, cutting regulations, unleashing energy, and streamlining our government." BI spoke with four small business owners about the new trade deal. They said they're glad that the tariffs were lowered, but that 90 days is not long enough to make decisions confidently — now, business feels like a guessing game. Racing against the clock When tariffs were at 145%, Alexander said he'd paused production on two projects for his company Coyote and Crow Games, which produces board and card games that represent the Indigenous community. He decided to green light both games when the trade deal went into effect, partly because he'd already sunk years and money into them. Yet Alexander isn't sure that he'll be able to take advantage of the new rates, which are significantly higher than before the trade war began. Under the fastest circumstances, 90 days may not be long enough to get his game that's currently being printed in China to the US, especially with potential shipping delays. He has no idea what taxes he'll end up paying on the game when it arrives. Haley Pavone, the 29-year-old founder and CEO of Pashion Footwear, which makes convertible heels, called the trade deal "a mix of relief, but also frustration." "If I could make a shoe in 10 minutes, I'd be stockpiling right now, but they take four months to make and this is only a 90 day reprieve," Pavone said. "It's not enough time to make any kind of change other than continuing to play it safe." Her summer shoes have arrived and fall products are in production, but she said she hasn't placed her holiday order yet. Pavone said that her fall shoes should arrive in August, but she doesn't know what taxes she'll pay on them. "It's anyone's guess," she said. Hugo Ramirez, 42, told BI he typically buys all of his nonperishables from China for Frio Mexican Treats, an ice cream and churro shop in Appleton, Wisconsin that features flavors from his hometown of Chihuahua, Mexico. When 145% tariffs were in effect he paused all of his orders from China and started buying from US manufacturers instead, but the materials were more expensive and not customized. For Jessica Kim, the 34-year-old owner of Mycha LA and Chicago, a company that operates vending machines for boba and specialty teas, the 90-day window offered a brief opportunity to receive a shipment, but no chance for long-term planning. She sources all of her vending machines, non-perishables, and a few specialty tea leaves from China. An order of 10 machines that was meant to arrive in February was delayed and was only ready to be shipped at the end of April. Kim paused the order, though, because of the 145% tariffs in place at the time. When the taxes dropped to 30%, she approved the delivery, and the machines are scheduled to arrive by mid-June. "I was trying to time it, almost like gambling," she told BI. 'Guessing game' Alexander told BI he's anticipating a $10 to $20 price hike on his games if tariffs stay at 30%, but he can't accurately predict costs. "I've already had to tell my customer base, 'I don't know what I'm going to have to charge you in the long run. I'll know when that inventory gets here,'" Alexander said. "I'm taking a chance. I'm gambling on my business." Pavone said she has no choice but to remain "as cautious and risk-averse as possible," which will likely impact her supply and pricing long-term. "While we're trying to put that budget together, we're having to play a guessing game of what happens at the end of the 90 days," she said about her holiday order. Pavone has also been impacted by President Donald Trump closing the de minimis loophole, which allowed shipments under $800 to avoid import taxes. To cope, she's raised prices on her products and attached a tariff tax to US orders, so consumers can see how much more they're paying. Prices haven't changed for her international customers. Expansions paused in their tracks Pavone said she had planned to grow her staff — she had an offer letter out but has rescinded it. Ramirez said he's also stopped thinking about expansion because it would mean having to buy new machines from China. So far, he said he's managed to keep prices stable on core orders, like a single scoop, but raised the cost of premium items. He said he doesn't want to play the blame game, and is instead focused on solutions, but he's unsure of the upside of the tariffs. "If they're going to fix the current markets and help us small businesses grow, I'm all for it," he said of the Trump team. "But as far as what I can see, this is what my experience is."
New York Post
06-05-2025
- Politics
- New York Post
Ex-NYC priest Frank Pavone and booted Bishop Strickland look for Hail Mary reinstatement from new pope
Two booted Catholic clerics — including a defrocked Staten Island priest who once put an aborted fetus on an altar — told The Post they are hoping for a Hail Mary reinstatement from the new pontiff. New York native and former Father Frank Pavone, an ardent right-to-lifer who posted photos of the remains of the fetus online, was stripped of his clergy status by the late Pope Francis in 2022 for alleged 'blasphemous' social media posts and 'persistent disobedience' involving his local bishop. 3 Former Staten Island priest Frank Pavone is hoping he may be reinstated by the new pope. AP Meanwhile, staunch conservative Texas ex-Bishop Joseph Strickland, a constant public critic of the more liberal Francis. was ousted from his lofty position in 2023. But now the stage is set for a potential return of either or both men to their previous posts as the conclave of cardinals begins huddling in Rome on Wednesday to pick a successor to Francis, who died last month at age 88. 3 Texas ex-Bishop Joseph Strickland got the boot after constantly publicly criticizing Pope Francis. USA TODAY Sports via Reuters Con 'Once the pope does pass away, we have a new pope,'' said Pavone — who blamed his ouster on Francis's 'cancel culture'' mentality. 'I'm going to go to that new pope and ask him to review my case and reinstate me,'' Pavone said. Strickland said he 'would certainly hope' that the new pope will view things differently than the relatively liberal Francis — and consider his request to be reinstated. 'A new pope can pretty much do what he discerns needs to be done,' Strickland noted. Strickland was removed as a bishop without explanation by Francis as head of the Tyler, Texas, diocese in November 2023. He was a persistent critic of some of Francis's positions, including his relative leniency toward gays, and some say the flak led to Strickland's ouster. 3 Pope Francis took both clergymen to task. Europa Press via Getty Images He is still a member of the clergy. On the other hand, Pavone, a Rye native had once been praised by Francis for his anti-abortion work, was stripped of his clerical status in November 2022. Pavone still heads the Florida-based Priests for Life, the group he founded at the urging of late New York Cardinal John O'Connor. Popular Catholic podcaster and author Michael Knowles said that while he's a fan of both men, when it comes to their chances with the new pontiff, things can get tricky. 'It is probably more likely that Bishop Strickland is given more to do in his day-to-day, because that sort of a decision, the Vatican would have much more direct influence,' Knowles said. As for Pavone, 'Such a decision would likely be made at a lower level,' the podcaster said. 'I don't want to bet against Father Pavone being reinstated, because I'm not really betting against that.'
