LAS VEGAS, Nev. (FOX5) – A Las Vegas Valley bicycle shop works to educate customers on the impact of tariffs on businesses and customers.
As businesses, big and small, are seeing wholesale prices and shipping costs rise, Las Vegas Cyclery workers break down the impact for new and regular customers.
Though many products like bicycles and accessories are manufactured in China, owner Jared Fisher explains a little-known fact: China is a leader in inventions and innovations for bicycles and electric bikes.
“China is probably one of the most important areas in the cycling industry because a lot of technology comes out of there, and obviously the product comes out of there,” Fisher said.
Fisher has worked to educate customers on tariffs. At first, price tags across the store displayed a price breakdown; as wholesale prices continued to soar, the education now continues as customers visit the store.
“Everybody is paying a little bit more– and the tariffs are more than the inflation rate right now, unfortunately,” he said. “Explaining to them verbally through my salespeople: ‘This is why this product went up. This store, in order to remain open works on a percentage margin.’ Tariffs cut straight in like a knife,” Fisher said.
Workers offer discounts on other products and accessories to help customers offset costs.
Fisher, a Republican, ran for Nevada governor in 2018 and campaigned by bicycling across the state. He explains that small business owners across party lines are calling for relief.
“Are we really growing our economy when we’re watching businesses go out of business because of it? No, we’re not,” he said.
Tariffs may impact the latest models that you can soon buy in American store: Fisher notes that companies are holding back on purchasing the latest models, all in an effort to mitigate any financial risks.
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