Here’s something that maybe you haven’t heard about, but may interest you, as it affects our shop and all bike shops in the United States currently.
Trump’s tariff increase from 10% to 25% on Chinese imports that took effect in September will change bike businesses for quite possibly the worse. Since all bike shops import bike parts from China, this tariff raise will cause bike shops to pay a lot more money for bike parts.
So, how will this affect us? To put it simply, badly. Bike parts that we used to pay $8.49 for, we now will pay $9.76. That may not sound like very much, but when we order fifty bike tubes and have to pay an extra $1.30 for each one, our costs skyrocket. However, due to the owners Italian heritage, some of our gear like our helmets, sunglasses and shoes are imported from Italy. Fortunately, the new tariffs will not affect these items, which is a silver lining for us.
How will this affect you? Well with increased costs on the manufacturer’s side usually prices raise. Which would mean more expensive bikes! But fret not, The Miraglias do not plan on raising prices, in fact their plan is to let all the other bike shops raise their prices and then gain their customers.