How The Tariffs Affect My Small Business

The Tariff Challenge: The difficult and high-cost decisions my small business is now facing

As I'm sure some of you have probably noticed, I love to share behind the scenes details with you all, and to be more transparent with what it takes to run a small business like EBD. That means sharing the good, and inevitably, the bad, and today is no different. That's why I want to let you know I'm going to have to increase prices soon. 😔

If you’ve been following the news lately, you might have heard that there are new tariffs in place for goods imported from overseas. Some tariffs are now up to 145%, and that number could increase at any second. Sadly, this has led me to the realization that my team and I are going to be forced to increase prices on a number of products in order to continue operating.

I really wish there was a way to absorb the entirety of these additional tariffs, but as a small business, we just can’t. These increases are unprecedented in both how suddenly they have been implemented, and how extremely high they are.

I so deeply appreciate all of the loyal customers who have supported me and my business these past few years, and I hope you will be willing to do so in the future. I want to give you all the heads up now, so you know that this really isn’t something I want to do, but have to.

Thank you again for your support.
Elyse

TARIFF UPDATE: Most Expensive Week for my Small Business EVER! I Spent SIX FIGURES Ordering Products

Has this been the most expensive week of my life? EASILY.
The second I heard the US reached a 90 day deal with China to lower tariffs (even if only temporarily), I knew I had to order immediately. Production alone can take 4-8 weeks for a lot of products, so there was no time to wait. And with no promise that a more permanent deal will be reached, I couldn't risk not reordering products that I'm confident will sell out before the year ends. Plus - I want to have inventory for the holiday season! So I started putting in order after order. Now, fingers crossed I can get it all done before tariffs jump again! Because honestly, who knows what comes next.

Here's where the tariffs stand currently (May 16):
China:
2 tariffs for 30% total: 10% base and 20% in response to the opioid crisis
These have been reduced from the previous 145% tariff rate for 90 days

India and Korea:
10% base tariff
These were reduced from higher reciprocal tariffs as part of a 90 day pause that ends in early July

I'm trying to keep y'all updated as the situation keeps changing! Please let me know if you have questions in the comments, and I'll try to answer them!