Small businesses like Keeley Electronics in Oklahoma City are struggling with rising import costs due to steep U.S. tariffs, leading owner Robert Keeley to use 1.8 million credit card reward points to cover a nearly $11,000 bill. With tariffs on critical components like potentiometers surging over 100%, Keeley is concerned about future pricing and sourcing challenges as he hopes for a reduction in duties.
Explain It To Me Like I’m 5:
Small Business Struggles with Tariffs
A small business owner is using his credit card points to pay for extra costs because of high fees on parts he buys from China, making it harder for him to keep his guitar pedal company running smoothly.
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