Business owners share receipts showing effect of Trump's tariffs and the results are insane
The real-time effect of Trump's tariffs on businesses has been devastating
Featured Image Credit: The Washington Post / Contributor / Getty
It's a bad time to be importing anything into America right now, as US President Donald Trump's wild tariffs have caused some business owners to recoil in shock once their shipping receipts arrive.
While Elon Musk's Department of Government Efficiency (DOGE) has taken most of the spotlight during Donald Trump's return to office this year, the president's incredibly controversial tariff plan might just be the most shocking and consequential thing that has happened so far.
On April 2 in an event that Trump described as 'Liberation Day', the president announced near-worldwide tariffs of varying amounts, so much so that even areas with no inhabitants were being targeted.
Experts have warned of the 'devastating' effects this new economic strategy will likely have on major industries across the United States in the near future, and many Americans are already feeling the inevitable price hikes that have come as a consequence.
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While gamers have thankfully avoided any spikes for the upcoming Nintendo Switch 2 release, many have seen an increase on the price of cars, Amazon orders, and potentially even the next lineup of iPhones.
These price hikes aren't just companies being greedy though, as many businesses are suffering just as much if not more through the increased taxes placed on imports, which then inevitably trickle down to the consumers themselves.
This isn't something you'd typically see as it will all be happening behind closed doors, but some American businesses have reached breaking point and decided to share just how much Trump's tariffs are burning a hole in their pocket.
As reported by UNILAD, Washington-based tech firm Wyze Cam revealed on X that they paid nearly double the cost of their imported products in tariffs as a result of Trump's economic policy, and the numbers are guaranteed to leave you shocked.
"Trump after we pay $255,000 in tariffs and $579.23 in 'other fees' to import $167,000 of Wyze Cams," the company wrote alongside an image of the president as a barista-like figure asking for a tip.
Fellow tech company GlytchTech also incurred significant costs on an order of $2,000, being charged a staggering $2,800 to import equipment which understandably forces them to raise their prices.
Open source hardware company Adafruit jumped on the bandwagon too, sharing a DHL Express customs duty invoice of its first 'big bill' markup across the last two months in a new blog post.
The company was charged an import markup of 125%+20%+25% which completely changes the overall value of the products, and the process of having to pay this charge is also complicated for businesses.
"Unlike other sales tax where we collect on behalf of the state and then submit it back at the end of the month, or income taxes, where we only pay if we are profitable," Adafruit explains, "tariff taxes are paid before we sell any of the products and are due within a week of receipt which has a big impact on cash flow."
This can cause many businesses to struggle financially as there's no guarantee that the products will sell, and the demands of the tariffs could outweigh the money that they have on hand at that point in time.