The Trump administration implemented tariffs, then slashed some of those tariffs and then put some on pause. But the impact is still being felt.
The haircare industry is a multibillion-dollar industry and sources a lot of its materials from overseas. Many in the industry say they are scrambling to keep their costs under control.
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WATCH HERE“It's just been difficult trying to maintain a decent profit margin while not going up on the customers too much and also trying to keep what they need in stock,” Renee Smith, owner of Royal Creations Hair, told NBC 7.
Royal Creations is a Black-owned beauty supply store in San Diego. A sizable portion of their products are imported, according to Smith. Along with fluctuating prices, Smith says there have also been shipping delays.
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SIGN UP “One report I've seen says that haircare products are worth about $13.5 billion, in terms of its overall market, and it's projected to increase to $14.5 billion by 2030,” said Dr. Alan Gin, an economics professor at the University of San Diego.
The impact is being felt by some people more than others.
“One other thing that I found in looking at this is that it's expected that African American women are going to be more impacted by this than any other group because they spend more of their income on haircare products than other groups,” Gin said.
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Some business owners are reflecting on their timing.
“This shop cost about 50 ($50,000) to $60,000 to get up and running, and that’s with me doing a lot of the work," said Ruth Quiacho, the owner of The Clipper Game Barbershop. "But if I were to do it now, it would be astronomical for me to get all of my things from overseas. It would be upwards of $100,000."
It remains to be seen if the tariffs that are suspended will be implemented again and how that will further complicate operating a business.
