Closer to home, an Associated Press article from Monday on 88-year-old LES institution Economy Candy titled "Trump's tariffs hit a sour note in landmark NYC emporium of sweets" made the rounds.
An excerpt:
Stepping into Economy Candy feels like a time warp. Its name is emblazoned on a sign in a vintage, blaring red script, and crossing below its green-and-white striped awning, past the bins of Smarties, butterscotches and Lemonheads in the front window, an indecipherable sweetness fills the air, oldies music sounds overhead and customers mill around stacks of candy bars they forgot still existed.It represents just a blip in the country's $54 billion candy industry. But it was already feeling the weight of surges in prices of cocoa and other ingredients before tariffs were layered on.Candy and gum prices are up about 34% from five years ago and 89% from 2005, according to Consumer Price Index data. Price, according to the National Confectioners Association, has become the top factor in consumers' candy purchase decisions, outweighing a buyer's mood.
Still, owner Mitchell Cohen...
... wore a smile anyway. He wants this to be a happy place for visitors.
"You travel back to a time when nothing mattered," Cohen says, "when you didn't worry about anything."
You can read the full article here.
6 comments:
All of the idiots who voted for Trump should have their right to vote revoked.
As a candy aficionado and a loyal patron of this beloved store for over 20 years, I am also highly disappointed in the morons who voted for this BS. Buying something sweet for one's self or for others might become impossible as many will have to adhere to a stricter budget now. Economy is known for their reasonable prices and plethora of options from around the world. The next few years are going to be brutal. I sincerely hope they can weather this storm and remain in business.
So the article says candy or cocoa prices went up 34% (mostly) during Biden's term. Trump's tariff is 20%. Ergo, Trump is evil and we want Biden back. Math is hard. BTW - the price of cocoa is DOWN about 30% since Trump was elected. A little research EV Grieve would have improved your reporting.
This is a false equivalency. There are a lot of factors that increase/decrease prices, many of which are not directly a president’s fault; but Trump’s tariffs are a direct price hike on imported goods and only he made that happen. Those new taxes (the tariffs are a tax that American consumers pay on imported goods), will be in addition to any other factors that would have increased or decreased prices during the same period. So if cocoa is down, depending on where it’s produced, it’s probably about to go back up once the impact of the tariffs hits the market. Understand?
To all the MAGAs, as I have previously posted, Ronald Reagan HATED tariffs. And RK Jr is in charge of health care.
Check mate.
https://www.youtube.com/watch?v=gFMyB8WMuDU
From a MAGA viewpoint, Americans should only consume candy made in America and American brands like Hershey and Nestle. Economy sells tons of imported stuff including Chinese made candies and tariffs would hurt the business of course. Canadian chocolate bars which it sells would cost more since Trump decided to punish our northern neighbor whom we share many similar values.
Post a Comment