The Impact of Trump’s Tariffs on Black-Owned Beauty Supply Businesses

Black beauty supply retailers are grappling with the ramifications of Trump's trade policies, reports NBC News. The $2.5 billion haircare sector is increasingly dependent on imports for essential products. Chasity Monroe of Memphis highlights daunting tariff hikes, with fees surging up to 145% on Chinese goods, threatening minority-owned enterprises. Similarly, LaWanda Majors faces soaring costs on Brazilian hair bundles. Economists like Trevon Logan emphasize that many Black businesses lack the capital to adapt during these turbulent times. The struggle continues as they seek solutions amidst financial strife.