RICHMOND, Va. (WRIC) — Talks of tariffs have created some economic uncertainty amongst shoppers — and small business owners are feeling it, too.
After learning that President Donald Trump set a 10% base tariff on nearly every country, Tammy Rostov quickly realized that her business would be directly affected. She owns Rostov’s Coffee and Tea on West Main Street. The family-owned business, which also operates as a roastery, has been a staple in the community since 1979.
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Rostov said most of the coffee is imported from Colombia and Peru.
“Coffee is not grown here, tea’s not grown here,” Rostov said. “I’m depending on my importers to break down the amount of tariff on each item.”
(Photo: 8News)
Like many business owners, Rostov is trying to understand how Trump’s new set of tariffs will affect her operations. In an effort to be transparent with customers, the business made a post on social media explaining that prices were anticipated to increase due to the tariffs.
“I just wanted to be open with my customers that coffee prices would be going up again, which — nobody wants to hear that,” Rostov said.
Rostov said coffee prices already spiked earlier this year, which caused her to raise prices by two dollars a pound. The recent tariffs would signal another price hike for customers.
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“I’m not really sure there’s anything I can do to offset it,” Rostov said. “It becomes an expense, so even when I bring things into the store, I have freight on them, and I have to figure out how to pay for that,” she said.
Rostov said she plans to meet with her importers to fully understand how much more she’ll have to pay before determining how prices will be impacted.
She said navigating these changes has been challenging, especially with how quickly things shift.
(Photo: 8News)
“I noticed this morning that there [were] conversations in the news, that countries are asking for conversations with our government,” Rostov said. “Once I decide what I’m going to do, is that thing going to change? So that’s the hardest part — the daily changes and the uncertainties.”
Despite the tough news, Rostov said she received positive feedback from customers after informing them of the anticipated price increases.
“I just wanted to be forthcoming,” she said. “People were very supportive, they understand that it’s not me trying to just make more money per pound, [but] that I need to cover the tariffs.”
Rostov said the tea she sells is imported from China and India, two countries also hit with higher tariffs. She plans to keep customers informed as she learns more.
