Chinatown businesses 'taking it day by day' as Trump's tariff war threatens their livelihoods, communities
New York City’s Chinatown is a vibrant tourist hub, with fresh food markets and celebrated restaurants packed in alongside souvenir shops.
However, tariffs are threatening businesses in Chinatowns across the country. One of the establishments directly affected is Phoenix Palace, a local hotspot in New York City.
The owner, Cory Ng, told CBS News that his restaurant imports nearly every single ingredient from China — and he saw costs rise significantly in the wake of tariff policies.
President Donald Trump originally announced plans to impose a 145% tariff on Chinese imports. Since then, the U.S. and China have agreed to a 90-day pause, with the U.S. reducing its tariff on Chinese imports to 30% and China dropping its tariff (on most goods) down to 10%.
https://www.yahoo.com/news/chinatown-businesses-taking-day-day-102200329.html