Tariff Turbulence Sows Uncertainty
As of this afternoon, most of President Trump’s steepest tariffs are on hold. Hours after they went into effect yesterday, the President announced a 90-day pause. He is keeping a recently implemented 10% tariff on dozens of countries impacting most global imports to the U.S, and the President is hiking the tax rate on imports from China to at least 145%. The Trump tariff turbulence is not resolved. Once the pause was announced, stocks surged yesterday after days of market meltdowns. Then they slid again this morning. We can watch how Wall Street reacts in real time to the on-again off-again tariffs. When it comes to Main Street, the uncertainty is impacting Central Florida businesses in ways you may not realize. We visited two on Tuesday hours before the big tariff hikes were to go into effect.
Haidar Ahmad owns Cedar Halal Food and Grill in Orlando. He takes pride in offering quality Middle Eastern fare at affordable prices, and that’s how he’s been able to maintain a steady and loyal customer base for more than twenty years. He’s seeing the wholesalers he buys from on a daily basis reacting to the market volatility experienced from Wall Street in New York to East Colonial Drive in Orlando. Raising prices is the last thing Ahmad wants to do, but at some point he may be forced to adjust his menu.
One business that isn’t so worried about the tariffs is Hyrule Kingdom Video Games, an independent game shop. Jose Rivera is the owner. He opened the Orlando store a year ago this week. Rivera has another game store in Port Orange that’s been running for twenty years, and he’ll soon open a third in the Miami area. We stopped by Hyrule Kingdom earlier this week to talk with him about how his import-reliant business is faring. Despite the fact that nearly all gaming consoles and games are manufactured in China, Mexico or Vietnam, Rivera has something of a formula worked out that explains why economic downturns like this don’t crush his business. He has seen video games serve as a social comforter before. The retail video game industry is unique in that it relies on the sales of new inventory as much as the exchange of used games and equipment. Some gamers like to save their gear for posterity while others would rather recycle it towards the challenge of a new game or upgraded system. Rivera expects that cycle of game exchange to boom.
Few people are as reliant on investment income as retired seniors. Many spent the week glued to 401K dashboards and investment apps. We spoke to Scott Perrone, a certified financial planner in Orlando about retirement preparation. Perrone said financial diversification is key. He has faith in the market’s long-term performance and emphasizes investing with the head, not the heart.
Florida Bill Gives the Unborn Legal Rights
A push to define unborn children and give them legal protections is gaining traction in this state. The Florida House of Representatives passed the Civil Liability for the Wrongful Death of an Unborn Child bill yesterday, sending it to the Senate for consideration. Survivors of the deceased and other family members could sue for pain and suffering and for potential future earnings lost. Jay Wolfson, Professor of Health Law at Stetson University, joined Engage to discuss the potential impact to health care and women’s rights. Wolfson says this bill is a new application of the law that is opening the eyes of attorneys, clinicians, insurance companies, and families.
The bill would protect mothers from wrongful action and healthcare providers in certain circumstances as long as that provider is in compliance with standards of care. Some health care providers and doctors are alarmed by the consequences of this measure. Laura Goodhue is Executive Director of the Florida Alliance of Planned Parenthood Affiliates, and Dr. Chelsea Daniels is a staff member at Planned Parenthood. They joined Engage to discuss their concerns for patients seeking care and legal complications that could arise.
The bill defines an “unborn” person as a member of the species homo sapiens in any stage of development who is carried in the womb. Mat Staver, Founder and Chairman of the conservative Liberty Counsel in Orlando, says the Civil Liability for the Wrongful Death of an Unborn Child bill is an appropriate way of protecting children in Florida. He joined Engage to explain his support for this bill.
Fourth Generation Shoe Repair Shop
In this day and age of disposable attire, few people think to get clothing and shoes repaired when they can be replaced on Amazon for just a couple bucks. Engage Senior Producer Richard Copeland traveled to McFarland’s Shoe Repair to meet with the owner, Jim McFarland. He would rather repair a worn pair of shoes than lay out for new kicks. The business began more than a hundred years ago in Indiana and over the generations, the McFarlands found their way to Lakeland.
