Tariff Impact
Well, you heard the president—tariffs are going up across the board on everything.
Historically, tariffs have never done anyone justice. While they didn't cause the Great Depression, they certainly made it worse—like throwing gasoline on a fire. If you study economic history, you’ll find countless examples of tariffs doing more harm than good. Yet, despite history proving these arguments time and time again, people either don’t care or don’t understand.
Now, how will this impact us? More specifically, how will it impact the jewelry business?
If you know me, you know I invest in the stock market and keep up with financial news. Small businesses have ways to maneuver around tariffs—something large corporations struggle with due to strict regulations and massive finance departments. Still, there will be a cost increase for imported goods. The key is minimizing that impact as much as possible. A 10% tariff might translate to just a 1-3% increase in cost if handled strategically. But at the end of the day, the media isn’t lying when they say that consumers will bear the cost. Prices will rise, even if only slightly.
And for those working regular jobs? Good luck asking for a raise. Employers will use rising costs as an excuse to deny raises or even lay people off.
People think U.S. manufacturing will be a great thing, but will it? Sure, jobs will open up—but look at manufacturing-heavy countries like China. Are they better off than the U.S.? No. Why? Because wages remain low, and people work under tough conditions. I spent 20 years working in a distribution company in Arizona, a right-to-work state, but we had a union. As a union steward, I heard the same phrase from non-union companies: “Be glad you have a job.” That meant nothing to me. Unions fought for fair wages and conditions. Without them, companies have no reason to pay more. Just because a factory job exists doesn’t mean it’ll pay enough to improve lives.
Manufacturing alone doesn’t make a country great—fair wages and economic opportunity do.
Right now, tariffs are being used as a political weapon. It’s too early to know their full impact, but history suggests it won’t be favorable. The president has an ego and something to prove, and we’re all footing the bill. If it works, great. If not, brace yourself.
From a business standpoint, this means uncertainty. Do we invest in costly inventory now, or wait? Every company will be asking this question. Only those who know how to navigate financial hurdles will survive. At Sigil Occult Jewelry, we’re preparing to keep prices fair and absorb as much of the impact as possible.
Where you spend your money matters. Support the businesses you want to see thrive in the future.
We appreciate your continued support and loyalty. Stay vigilant with your finances, and let’s hope for positive outcomes sooner rather than later.
Hails to our Sigil Coven.
—Xerxes