Restaurant owners near the White House are jacking up menu prices because of Trump's trade wars. John Filkins runs drinks at Clyde's Restaurant Group and says customers must pay more for their meals. The company operates over a dozen eateries around Washington DC since the 1960s. Filkins admits they have no choice but to charge extra for wine, spirits, and food items. Prices jumped between 50 cents and a dollar per glass at places like The Hamilton downtown.
Coffee and tea costs have skyrocketed by 20 to 30 percent over six months. Clyde's imports beans from Brazil and Indonesia for their coffee blends. Their teas come from India and China where tariffs hit hard. The restaurant chain also brings in most wines from European Union countries like France, Italy, Spain, and Portugal. Trump slapped a 10 percent tax on imports back in April.
Things are about to get much worse next Wednesday when tariffs climb higher. European goods will face 20 percent duties and Japanese products will get hit with 24 percent taxes. Chinese imports already carry a 30 percent tariff right away. Indonesian products will jump to 32 percent and Indian goods will reach 26 percent. Restaurant businesses run on tiny profit margins in single digits.
Filkins worries that small independent restaurants might not survive these crushing costs. The beverage director hopes Trump will ease up on the trade taxes soon. Restaurant owners cannot plan ahead when tariff policies keep changing every few days.
Coffee and tea costs have skyrocketed by 20 to 30 percent over six months. Clyde's imports beans from Brazil and Indonesia for their coffee blends. Their teas come from India and China where tariffs hit hard. The restaurant chain also brings in most wines from European Union countries like France, Italy, Spain, and Portugal. Trump slapped a 10 percent tax on imports back in April.
Things are about to get much worse next Wednesday when tariffs climb higher. European goods will face 20 percent duties and Japanese products will get hit with 24 percent taxes. Chinese imports already carry a 30 percent tariff right away. Indonesian products will jump to 32 percent and Indian goods will reach 26 percent. Restaurant businesses run on tiny profit margins in single digits.
Filkins worries that small independent restaurants might not survive these crushing costs. The beverage director hopes Trump will ease up on the trade taxes soon. Restaurant owners cannot plan ahead when tariff policies keep changing every few days.
