AUSTIN (KXAN)— President Trump is lowering tariffs for imported goods to 10% for all countries, except China.
That tariff rate for Chinese good imports has gone up to 125%. And it's something that will be felt here in Austin with a number of Chinese American businesses.
Trump announces pause in tariffs; markets jump Austin's China Town shoppers react to Trump's 125% tariffs. (KXAN photos/Tim Holcomb).KXAN spoke with shoppers and businesses in China Town in north Austin. It's a center with more than 35 Asian restaurants and shops. It's been a cultural hub for many Asian businesses for nearly two decades, according to its website.Some of those business are Chinese American and told KXAN they do import a lot of their products from China."What can we do?," one shopper said. "We cannot change anything."Shoppers who frequent the center are waiting to see how big of an impact they'll feel with tariff hikes. One shopper feels like some are already panic buying.
"It's very busy in there," the shopper said. "The lines are all the way to the back... [it's not usually like that.]"Some shoppers told KXAN they shop at the MT Chinese Supermarket for fresh products, or things that are hard to find other places.One of the market's employees in China Town said they didn't have time to do an interview with KXAN, because with new tariffs, they're having to rework their prices."I see people putting things back," a shopper said. The Greater Austin Asian Chamber of Commerce (GAACC) has nearly 1,580+ members that are businesses and organizations. Some of those are Chinese American. GAACC's CEO provided KXAN with a statement about the Chinese tariff impact.
It's complex. We've seen a significant surge of Asian companies keen to invest here due to the tariffs, and we've also heard from small local companies planning to shut down because they cannot easily flex Asian sourcing or absorb the new tariff costs.
Mark Duval, President & CEOGreater Austin Asian Chamber of CommerceSome politicians, like Texas Sen. John Cornyn, backed Trump, calling it a short-term sacrifice for a long-term gain."We play by the rules here in America, many other countries do not," Cornyn said. Texas' biggest trade partners were Mexico, Canada and China last year, making up almost half of all trade in the state. China has typically been the state's second import partner.
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