Local international markets brace for possible tariffs despite pause
SOUTH BEND, Ind. --The future of international grocery stores like the Saigon Market in the heart of Downtown South Bend is uncertain after 30 years on the corner of Colfax and Main.
Kevin Koak and his wife have spent the past 12 years bringing a taste of Asian and African goods to the community.
More than 90 percent of their products come from overseas, including China and Thailand.
Many products that American consumers can’t find in their everyday grocery stores.
Now that President Trump has announced a 90 day pause on reciprocal tariffs, but a jump to 125 percent on Chinese goods, they are still bracing for the price of practically everything in their store to go up.
Which the Mom and Pop Shop says has been a ‘nightmare’.
“We only have two choices, to pass the cost to our costumer or we close. So, I’m hoping this is just a short term where just you know go back down, but I don’t know. I don’t honestly know what’s gonna happen,” said Koak.
According to the Associated Press, research shows International Supermarkets & small grocers garnered $55.8 billion dollars in revenue last year, and that number was projected to grow over the next four.