Yair Reiner, CEO of Gowanus Kitchen Lab, faced critical challenges for his kitchenware business due to tariffs imposed by President Trump on Chinese goods. Initially set at 145%, the tariffs greatly impacted his operations, but a recent reduction to 30% offered some relief, albeit not enough to ease his overall burden. This instance illustrates the chaotic nature of Trump's trade policy, with fluctuating tariffs creating uncertainty for businesses. Economic experts noted that current U.S. tariff levels are at their highest since the 1930s, underscoring the long-term ramifications of these policies.
"When the tariffs were at 145%, it felt like someone had their boot on the neck of my business, and I couldn't really get any oxygen."
"The boot's still there. The level of pressure has eased, but certainly I'm not breathing well and it's very hard to figure out what my next steps are going to be."
"With the so-called 'Liberation Day' tariffs, he took us to just catastrophic levels. And now with these cuts, he's brought us back down to roughly where they were in 1940."
"They've made 30% feel like something of a relief. This pattern has played out repeatedly with Trump's chaotic tariff policy."
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