Title: The Impact of Tariffs on Colorado's Restaurant Industry: A Case Study in Adaptation
In an era where global trade tensions are at an all-time high, local businesses often find themselves caught in the crossfire. This was certainly the case for Steve Hammer, owner of Mauka Poke and Twisted Root restaurants in Eagle, Colorado. When President Trump announced tariffs on Vietnamese goods, Hammer knew he had to act fast to protect his business from potential price hikes.
The story begins with "Liberation Day," when the U.S market plunged into volatility following Trump's announcement of tariffs on Vietnam. Fearing that prices would increase due to these new trade restrictions, Hammer decided to panic-order 200 pounds of ahi tuna for his poke restaurant, Mauka Poke. This decision was not without its challenges; as he explained, "On 'Liberation Day,' I probably got 10,000 grey hairs."
Hammer's proactive approach highlights the importance of adaptability in today's business landscape. With Fitch Ratings downgrading the restaurant industry's outlook from neutral to deteriorating earlier this year, it is clear that businesses like Hammer's are facing significant risks and challenges. The Independent Restaurant Coalition has also warned about the pressure smaller restaurants and food processors face due to Trump's tariff war with China.
The historical context of this situation reveals a pattern of unpredictability in global trade policies, which can have severe consequences for local businesses. As countries impose new tariffs on each other, companies must find ways to navigate these changes without compromising their bottom line or customer satisfaction. In Hammer's case, he chose to absorb the increased costs himself rather than passing them onto his customers – a decision that could potentially impact his profit margins but ensures continued loyalty from patrons who appreciate consistent pricing.
Looking ahead, it remains uncertain how these tariffs will ultimately affect Colorado's restaurant industry. However, one thing is certain: businesses like Hammer's must continue to adapt and innovate in order to survive in an increasingly volatile global marketplace. By taking proactive measures such as panic-ordering inventory or finding alternative sources for supplies, local restaurateurs can help mitigate the impact of these trade disputes on their establishments – even if it means sacrificing a few grey hairs along the way!
In conclusion, Steve Hammer's story serves as an important reminder that in times of uncertainty and change, adaptability is key. As global trade tensions continue to escalate, local businesses must learn how to navigate these challenges while still providing quality products and services for their customers. By doing so, they can not only survive but thrive despite the ever-changing landscape of international commerce.
Source: [Original Article](https://www.nbcnews.com/business/business-news/restaurants-struggle-under-trump-tariffs-steve-hammer-mauka-poke-rcna216569) #colorado
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