Just read where a restaurant wants to increase their prices by thirty percent just to remain in business.
This may have the opposite effect as many diners will limit their visits reducing the venue’s total profits causing the possibility of their closing.
Not sure if this increase demand is cause by new tariffs or inflation. Either way in the near future we may see serious increases in autos, digital devices, food, energy and all other staples causing possible recession or worst.
Survey says: CT businesses struggle with tariffs, labor woes, rising costs
How can these economic impacts be averted ? One way would be to reduce the increase in new tariffs especially with our friendly trading partners and negotiate with China for a more favorable resolution of trade.
The choices are difficult but the need is real and our financial health and prosperity is at stake.
Bob Sweeney, Warwick