Small business owners across New York City are facing mounting anxiety as escalating tariffs from President Trump’s trade war ripple through the local economy. As import taxes raise the cost of goods from around the world, local retailers are being hit hard — many fearing price hikes, shrinking margins, and even closure.
Jessica Walker of the Manhattan Chamber of Commerce highlights the scale of impact: over 100,000 small and medium businesses in NYC are bracing for economic strain. From seafood markets to chocolate shops and fashion boutiques, shopkeepers are grappling with tough decisions.
At Aqua Best Seafood, daily imports from Europe and Asia are subject to steep tariffs, leaving owners Freeman and Steven Wong unable to adjust pricing quickly enough to cover the extra costs.
Rhonda Kave, chocolatier and owner of Roni-Sue’s Chocolates, sources beans globally and is watching another revenue stream disappear: corporate team-building events. As Wall Street reels, her monthly income could drop by $10,000.
Kelly Wang, who runs sustainable fashion boutique Rue Saint Paul, may have to eliminate her top-selling product due to tariffs on Chinese-made garments, which could more than double retail prices.
Retail analyst Caroline Weaver warns that nearly a quarter of shop owners she surveyed anticipate closing within two years — even before the latest tariffs hit. With a long supply chain inflating costs at each level, the burden falls heaviest on small retailers.
Lastly, Marvina Robinson, founder of B. Stuyvesant Champagne, refuses to compromise her brand’s identity by switching from French to American grapes — choosing to absorb the financial blow instead.
As NYC’s independent businesses struggle to stay afloat, the uncertainty around tariffs threatens not just products and profits, but the cultural fabric of local commerce.
