OMAHA, Neb. (KMTV) — So much of what we buy comes from other countries, and with President Trump's new tariff plan rolling out, local businesses in Omaha say they are already feeling the heat.
- This Wednesday, the plan, which includes a baseline 10% tariff on almost all imports, will go into effect.
- Mangelsen’s owner Matt Mangelsen says the small business can only absorb so much of the added expenses.
- Owner of home decor store, Prairie in Bloom Lukas Rix says there is a lot of unknowns right now when it comes to the near future for his business and how they price things.
BROADCAST TRANSCRIPT:
So much of what we buy comes from other countries, and with President Trump's new tariff plan rolling out, local businesses in Omaha say they are already feeling the heat.
This Wednesday, the plan, which includes a baseline 10% tariff on almost all imports, will go into effect. While the impact might not be immediate to shoppers, small business owners warn that price increases are inevitable in the coming months.
At the fabric and craft store Mangelsen’s on 84th and West Center, over 80% of their products come from outside the U.S. Store owner Matt Mangelsen says his family business isn’t the only one who will see a direct impact in the months to come.
"I don't have a choice, I just have to pay it. And because we have to pay that, prices have to go up somewhere. We can only absorb so much. We're just a small business here in Omaha," said Mangelsen.
Mangelsen says businesses like his family’s can only absorb so much of the added expenses and while they don’t want to increase prices, it’s something that can only be delayed for so long.
Meanwhile, at the home decor store Prairie in Bloom, owner Lukas Rix is also concerned about the financial strain the tariffs will place on his business.
With about 85% of his store’s products coming from imports, he says there is a lot of unknowns right now when it comes to the near future for his business and how they price things.
"We're gonna try to absorb some of that and not pass it all on to you, us being the retailer. So then at that point, we as a small business have to make the decision—are we going to pass that, even if it's just 5%, on to the consumer?" said Rix.
While the impact won't be immediate, Rix says prices could increase by 5% by this summer if his store's vendors start raising their prices.
For now, he advises shoppers not to panic-buy, recommending that shoppers stick to their budgets and spend only what they are comfortable spending.
As these tariffs take effect, small businesses across Omaha are working to navigate the challenges ahead, balancing the need to stay competitive with the reality of increased costs.
