Des Moines small business owners are facing uncertainty about the future as President-elect Donald Trump plans to impose new tariffs on imports from Canada, Mexico, and China. Cindy Boeyink, the owner of Sassy’s Boutique in West Des Moines, is concerned about the potential impact on her business, which imports clothing lines from Canada and Mexico. Rising shipping costs due to COVID-19 have already forced Boeyink to raise prices for customers, and additional tariffs could further increase costs.
Other small business owners in Des Moines are also feeling the effects of the economic uncertainty, with customers spending less and profits remaining low. The National Federation of Independent Business recorded a high level of optimism among small business owners, but profits are still down. If new tariffs are implemented by the incoming administration, household costs could increase by an estimated $830 per year, affecting a wide range of goods from smartphones to fresh produce. Despite the potential benefits of buying U.S.-made goods, some raw materials like aluminum are not available locally, posing a challenge for businesses in Iowa that rely on imports.
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