Tariff hikes to hit bicycle shops and cycling enthusiasts
(05/14/2019) - If you're in the market for a new bike--you may want to 'pick up the pace' when it comes to making that purchase before the tariff hikes kick in.
Tuesday night we spoke with a bike shop owner in Davison whose already heard from his distributors. Al Comstock says the time to stock up is now:
"We got emails saying that my price was being bumped up," he explained, "if we want to avoid that 15% to buy that night."
Comstock, a bike shop owner who faced a 10% tariff hike back in October, scrambled to put together an order.
New inventory will be on its way next week, but the following order will cost 15% more after U.S. import taxes on Chinese goods jumped to 25% on Friday.
"If you're going to save some money," he noted,"better get in here now."
Angela Spencer is looking to make a purchase ahead of a 30-mile group ride in June.
Even if she had delayed her purchase, she says she would not let tariffs deter her from purchasing a bike:
"I probably would," Spencer said,"just because I think biking is good exercise and it's what I enjoy doing."
Industry experts fear the juvenile market may be hit hard, as higher quality bikes are not much cheaper than adult bikes.
The tariffs are being applied to products shipped from China last Friday.
President Donald Trump began to raise tariffs ten months ago over complaints China steals or pressures companies to hand over their technology.
Many American businesses and farmers reportedly support President Trump's mission to address what they say are unfair trading practices
But using tariffs as a negotiating tool comes at a cost:
"I don't like tariffs," said Edward Derbin, "I don't like the idea of tariffs, but again, so far as the politics is concerned, this is what's most expedient from what I can see right now."
The economics professor at Mott Community College added, "This is a path we're taking, and it seems, I think, that it will work in the long run."
The bike shop owner, meanwhile, in his 29th year of business, hopes his loyal customer base will stick with him:
"People aren't going to stop shopping," Comstock noted,"will they look for cheaper things to buy because of the 25%, we'll have to wait and see."