South Florida businesses, shoppers brace for higher prices as tariffs expected to drive up costs
The next time you shop at a big-box store like Sam's Club or Target, you may notice prices creeping higher.
Across South Florida, businesses are already feeling the strain and for small retailers like Discount Health Foods, the challenge of keeping costs down is becoming more difficult.
Winsome Williams, the store's owner, has worked hard to help her customers stretch their dollars. But with rising tariffs and price hikes, she said the future is uncertain.
"When we order, we may not be able to order as large an amount as we normally would because if you're spending $5,000, it's not going to go as far today as it went two years ago," Williams said.
Tariffs driving up costs across industries
A 25% tariff is now in place for goods imported from Canada and Mexico, while products from China face an additional 10% tariff, bringing the total to 20%. These increased costs could begin hitting store shelves as early as this week.
For businesses like Discount Health Foods, which sources internationally, absorbing those costs isn't always an option. Supply chain issues have already led to delays, with items like Brazil nuts becoming harder to stock.
Some consumers support the tariffs, believing they will benefit the U.S. economy in the long run. Shopper Cathryn Zubi said, "I feel that we've been paying more, paying more, paying more and it's nickel and diming us. So just pay more and the countries will work with us."
Financial experts offer cost-saving advice
However, many South Florida consumers are concerned about rising costs, especially as they struggle with higher grocery and gas prices. Experts suggest shoppers can reduce their spending by opting for used goods over new ones.
"When it comes to cellphones, instead of buying a new one, buy a used one. Or instead of buying a brand-new car, buy a used one and you won't have to pay the 25% on products that are already in the United States," said Eric Steffy, CEO of Federal Solutions Support.
More price hikes on the horizon
Beyond grocery stores, rising costs could hit other areas of everyday life. Experts warn that gas prices in South Florida could increase by as much as 40 cents per gallon in the coming days. The price of new cars is also expected to rise, though those increases may take months to fully take effect.
For Williams, the possibility of more price hikes is frustrating. "It's disconcerting to me and to us as retailers and to the customers when every few weeks you're seeing the price go up on something," she said.
As inflation and tariffs continue to impact businesses and consumers alike, South Florida shoppers may have to make tough choices to keep their budgets in check.
