Buffalo, N.Y. (WBEN) - Local businesses are bracing for impact as President Donald Trump prepares to roll out tough new tariffs on U.S. trade partners on Wednesday, also dubbed "Liberation Day."
Keith Farkas with Great Skate Hockey Supply Company says vendors are already reaching out to let him know that prices are going to start increasing soon.
"Well, every year there are price increases in our industry. Unfortunately, this year is no different. We have been notified that there will be price increases, especially on the newest product coming out," stated Farkas in an interview with WBEN. "Unfortunately, our hockey equipment does come from Canada and the United States, and there's stuff made in China. So we're going to feel all the effects of certain products going up in price, but not everything."
Farkas says he would like to rely on American made products, however most of the factories that make hockey equipment are overseas.
"I think that would really jump in price right now. Probably 99% of the product is made overseas. Nothing's made in the US. As far as hockey goes, it's all imported from China, Thailand, Indonesia and other countries," explained Farkas.
David Scheffield with Buffalo Bottlecraft, a company that specializes in merchandise like hockey puck coozies, says the tariffs are now putting him in a position where he has to decide if he's going to increase prices or decrease earnings.
"The tariffs that he will be instituting on Canada are increasing our cost on hockey pucks by 25%. I've kind of shared this with my customers. A lot of them say, 'well, can't you buy American made hockey pucks?' Well, there really isn't actually any puck manufacturers in America. So that's kind of out of the question. We also import some of the fasteners and the opener plates from China, and we do all the final like machining and assembly work and printing on to customize the product here in Buffalo, but, we get our component parts from abroad, and this is going to really increase our cost," stated Scheffield.
