DENVER — President Donald Trump’s plan to impose up to $60 billion in tariffs on Chinese imports could hurt some Colorado businesses and potentially help others.
In 2017, Colorado imported nearly $2.2 billion in Chinese goods, including everything from medical supplies, computer parts and more.
They could get more expensive if the tariffs affect them. So could a lot of the goods sold on the 16th Street Mall.
Inside many shops, everything from souvenirs to shirts are made in China. Right now, store owners don’t know how the tariffs could affect the prices they pay and in turn, what they charge customers.
If they do increase, they could push customers to other stores that don’t import a lot from China.
That’s what Thutop Yuthok hopes happens at Yuthok Tibetan Treasure, the shop he and his family have operated just off 16th Street for 15 years.
“I don’t have ‘Made in China’ things, most of these things are made in Nepal,” Yuthok said of the ornate jewelry, art and meditation items inside the store.
His prices probably won’t be affected by the tariffs. Most of what he sells is made by Tibetan people in Tibet (which is under Chinese rule), India or Nepal. And it’s all imported from Nepal and does not face an American tariff right now.
Other businesses may try to do the same thing to avoid the tariffs.
The Trump administration said it plans to release a list of what goods will face the tariffs in the next 15 days.