Economy Candy, a store in New York City known for its diverse selection of candies from around the world, is facing significant challenges due to the historic tariffs announced by President Trump. Owner Mitchell Cohen believes that nearly all of the 2,000+ items in his store will be affected, exacerbating existing price hikes from suppliers. With candy prices already on the rise, Cohen fears that tariffs will lead to 'hyperinflation' on many products, impacting affordability in the candy industry, which is worth $54 billion in the U.S.
I think all of them. Few corners of the American economy are untouched, directly or indirectly, by the sweeping tariffs being imposed by Trump.
If we're putting tariffs everywhere, it is going to go up. I think it's gonna be another round of this hyperinflation on some items,
Candy and gum prices are up about 34% from five years ago and 89% from 2005, according to Consumer Price Index data.
Price has become the top factor in consumers' candy purchase decisions, reflecting concerns over affordability as inflation rises.
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