TAYLOR, Mich. (WXYZ) — The co-owner of a local toy store says they're feeling the impacts of President Donald Trump's tariffs, especially as 60% of their products come from China.
First Form inside Southland Mall in Taylor sells toys like anime Funko Pop figures and other items from China, Japan and Taiwan. Store co-owner Ricardo Soria says tariffs are already driving up costs.
"Anxiety-ridden — that's the way I'm feeling," Soria said.
Soria says he’s worried about his store.
"Right now, we're seeing a 44% increase in our invoices for products," he said. "For example, if I grab this figure right here, we're charging $30 for the figure. With the 44% increase, we're going to have to charge over $55 for the product itself."
Web extra: Co-owner Ricardo Soria walks us through First Form inside Southland Mall and talks about potential increases
The changes are putting him and his customers in a tough position.
With the 44% increase, Soria said by selling the product at the same price they are now, he would make a 10% profit.
“I can't survive on that,” he said.
With more than half of his products from China, Soria says he's scared he may even lose his distributors, causing him to scale back the business.
"They're essentially seeing this increase and panicking as well,” Soria said.
It's a situation that could get worse after Trump increased tariffs on China to 125% Wednesday afternoon.
"A 100% tariff means literally the price to you just doubled, so that's a very serious issue if you're actually relying on those particularly goods," said Patrick Anderson, principal and CEO of Anderson Economic Group.
Anderson says he's seeing people buying items now to avoid paying higher prices later.
Luckily, Soria has some loyal customers and he's doing everything he can to keep his business afloat.
"I'd probably still pay that money for stuff that I love," customer Dave Gardner said.
Soria says as a way to support toy stores like his, he's hosting a pop culture convention in Port Huron this summer and he encourages customer to be of part of it.
