Business owners and consumers alike are breathing a sigh of relief following news that President Donald Trump paused a wide range of tariffs he had imposed on dozens of nations. It was surprising and welcomed news by Victor Vinhas, who owns and operates Vinhas Jewelers with his wife on Ferry Street in Newark. “I think it’s a good idea. It’s just too much to handle for the world,” Vinhas said.
The immediate fears of having prices on goods skyrocket calmed investors Wednesday as stocks saw big gains. However, the uncertainty of what might lay ahead still lingered on the minds of some, particularly those operating in the pharmaceutical industry.
On Tuesday, Trump teased plans for “major” tariffs on pharmaceutical imports to sway manufacturers to produce their products in the United States. The news that imported medications that help people with heart conditions, diabetes and other ailments would possibly get more expensive for customers was the topic of discussion among the staff at Komishanes Pharmacy on Stuyvesant Avenue. Sham Datwani, the head pharmacist, and owner has been in business there for more than 40 years. Tariffs worry him. To read the full story.