Economy Candy, a colorful candy store in New York's Lower East Side, faces the looming threat of increased prices due to new tariffs imposed by President Trump. Owner Mitchell Cohen is concerned that nearly all of the shop's diverse 2,000-plus candy items, including international selections like Kit Kats from Japan, will be affected. As inflation-driven price increases had just begun to ease, Cohen fears that tariffs will spark another instance of hyperinflation, making it difficult for the store to maintain affordability in a competitive candy market already burdened by high ingredient costs.
Cohen expresses concern that the new tariffs might push prices up across all his products at Economy Candy, especially as he had already been seeing inflation.
Owner Mitchell Cohen insists that with the tariffs affecting a wide range of items, he anticipates another wave of hyperinflation that will hit affordability in his store.
The candy shop Economy Candy, though a small business, surprisingly illustrates how widespread the economic impacts of recent tariffs are on various goods.
Cohen mentions that his shop, which also has a rich history, is affected by rising supply costs, exacerbated by tariffs imposed by the government.
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