KATY, Texas – The United States is less than 24 hours away until sweeping new Trump administration tariffs take effect on goods from nearly 60 countries.
A small business owner in Katy said she wonders what this could mean for her.
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Jessica Wang owns Serene Wax Boutique in Katy.
At Serene Wax Boutique, Wang purchases imported wax from Spain and most of her medical supplies like gloves, wooden sticks and gauze pads are imported from China.
The Trump administration says it calculated the increases based on the tariff rates these countries charge the U.S. on imports.
For context, Spain currently imposes a three to five percent tariff on U.S. goods. Effective Wednesday, a 20 would tariff will apply to imports from Spain.
Goods from China will be hit with a 54 percent tariff. Last week, China announced it would impose a reciprocal 34 percent tariff on all U.S. goods.
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“I do not want to raise prices on customers,” said Wang. “I’m trying to hold down as long as possible.”
Even with the potential price hikes from tariffs, Wang said imported goods are still cheaper than buying products manufactured in the U.S.
“Double or triple the price, at least,” said Wang, when asked about the price of comparable American items.
The last time Wang had to raise prices was during the pandemic. She said during that time, she also had to cut employee hours.
“Because the profit on this is not much already,” said Wang. “I might go negative.”
Wang said it is tough for beauty businesses as a whole right now because beauty is often the first thing people will cut from their budget when trying to save money.
“I just wish we can survive this one, too,” said Wang, when speaking on the potential price hikes from tariffs.
Wang said she’s already received two emails from different suppliers about potential disruptions from tariffs.
