Trade war between U.S. and China impacting NCFL businesses
As the trade war between the U.S. and China sends shockwaves throughout the economy, it's now affecting some businesses in North Central Florida.
Teastori, a boba tea shop on 34th street in Gainesville, formerly known as Lollicup, announced that they would have to raise prices.
They are blaming the new tariffs on imported goods that resulted in a 25-percent tax increase on items like loose leaf teas, printed cups, and straws.
Shop owner Nam Diep is in Vietnam looking for new suppliers.
He tells us over Skype that after suppliers announced they would pass on the cost, the loss became too difficult to absorb.
"You know, we're a small family owned business and the last thing we want to do is raise our prices on our customers who have been extremely faithful, and they're the ones that have kept us in business all these years and it's extremely tough to make those decisions," said Teastori owner Nam Diep.
The price increase is five cents a drink.