Chinatown, Uptown business owners worry about tariffs as Trump’s trade war continues

Nearly Three In Five Small Businesses Worry The U.S.-Canada Trade War Could Impact Their Summer Tourism Season

The summer tourism season is here, and 58% of small business owners are concerned the U.S.-Canada trade dispute will be disruptive, says the Canadian Federation of Independent Business (CFIB). “For many businesses, summer is a make-or-break season. Tourism operators in particular count on summer revenues to get ahead of their debt and high costs,” said Louis-Philippe Gauthier, CFIB’s vice-president for the Atlantic region. This year, almost 40% …

Chinatown, Uptown business owners worry about tariffs as Trump’s trade war continues

The turmoil of tariffs has been painful for Chicago businesses that rely on China, which is the main target of President Trump’s trade wars. The businesses who are especially hurting include those in Chinatown and Uptown, two neighborhoods with large Asian communities. Spencer Ng owns Triple Crown, a 200-seat restaurant in Chinatown that his mother founded in 1996. In April, after Trump ordered 145% tariffs on China, some of Ng’s vendors raised …

Three Goals for Trump’s Trade Negotiations

The Trump administration has increased tariff rates on dozens of countries in part to kickstart trade policy negotiations. These tariffs include 10-percent tariffs on dozens of countries, tariffs of over 30 percent on China, 50-percent tariffs on steel and aluminum, and 25-percent tariffs on autos. While the specifics of each negotiation will vary depending on the country’s role in the global economy and its current trade laws, there are three h…