A Supreme Court ruling just wiped out many of President Donald Trump’s tariffs, and New York businesses now wait to see if prices will fall, according to Spectrum News 1.
David Mooradian of Mooradian’s Furniture said some tariffs hit 30%, forcing price hikes. Business Council of New York State surveyed members last year and found most saw harm, not help, from the trade policy.
Industry leaders expect the decision to ease costs, but warn changes won’t happen overnight. Mooradian says he’ll lower prices if manufacturers do. Analysts estimate it could take up to six months to see the full impact. Meanwhile, Trump signed an order Friday imposing a new 10% global import duty.
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