Local experts tell 10 News that with the new tariffs imposed by the Trump administration, product shortages and delays should be expected.
Some businesses will reduce investments and slow production to soften the tariff hits. Economists at Virginia Tech say the first place you will notice change is at the grocery store, with a spike in prices for fresh produce in the next few weeks.
This is going to be something that hits everyday Americans really hard. This is probably a moment for sort of a, I would say, a self-reflection of thinking about where are places that families can make cuts today, realizing that the prices are going to go up in the future."
Wooten says small businesses that import or export goods will face even more challenges than larger businesses that are more financially stable. He also adds that while the Trump administration is doing this to bring more industries back to the U.S., this is unlikely because the production costs are higher here than in other countries.