Chinatown Businesses Reel from Tariff Shocks
Elected officials and community leaders representing Lower Manhattan are speaking out in protest about the impact that the tariffs imposed by the Trump administration are having in Chinatown.
At a rally earlier this month on Doyers Street, Congressman Dan Goldman said, “Donald Trump’s reckless and destructive trade war is crippling New York’s [Asian-American Pacific Islander, or AAPI] small businesses and pushing entire communities to the brink of financial ruin. Mom-and-pop shops are struggling to make ends meet. Livelihoods are on the line. If Trump doesn’t reverse these tariffs immediately, his dangerous brinkmanship will shutter AAPI small businesses not only in New York City but across the country.”
State Assembly member Grace Lee, who chairs the Asian Pacific American Task Force in the lower house of the State legislature, said, “Trump’s reckless tariff policies are driving up costs for small businesses and raising prices for everyday people. In Chinatown, family-run shops that have been part of the community for generations are struggling to survive. And when hostility toward China drives policy, it too often leads to racism against the Asian American community. These policies aren’t just bad economics – they’re bad for Asian Americans.”
Karen Liu, second-generation owner of a Chinatown family business, Grand Tea and Imports (on Grand Street), said, “almost every business in Chinatown is an import business in some way. These tariffs threaten our ability to restock – and for many of our neighbors, their ability to stay open. As we move through this uncertain time, I hope policymakers remember Chinatown. We shouldn’t have to face this alone.”
The Trump administration initially announced a 34 percent tariff on all goods imported from China to the United States in early April, but increased this to 145 percent a few days later. Ms. Liu added, “when the tariffs suddenly jumped to 145%, we were immediately overwhelmed. These threaten our ability to restock, and for many of our neighboring business owners, their ability to stay open. All of this feels confusing, exhausting, and unfair to our community.”
Mr. Goldman said, “the President’s tariffs are pushing many Asian American-owned small businesses in New York City toward financial ruin, especially those dependent on foreign imports. The trade war driven by the White House threatens to devastate historic Asian-American neighborhoods. These reckless policies are creating economic volatility and disproportionately affecting businesses reliant on international trade. As a result, many small businesses are uncertain about their future, placing a significant financial strain on Asian-American families and entrepreneurs across the city.”