A Beverly Hills-based entrepreneur unleashed an exasperated tirade Thursday on President Donald Trump on CNN, warning that his tariffs will “kill Main Street,” lead to a depression, and will be the “final nail in the coffin of small business.”
Tara Riceberg, owner of Tesoro, a luxury gift store, joined fill-in host Phil Mattingly on “The Lead” to discuss the impact of Trump’s economic policies after her business went up in flames on Christmas Day.
Riceberg said the business she has scrambled to save since the pandemic is “now gone” after flames swept through the storefront. She visibly fumed on the program that the cost of rebuilding her shop over the next year could soar.
“The tariffs are real. They’re taxes. They’re taxes Americans are paying,” she railed.
Riceberg said there’s a disconnect in that many Americans believe Trump’s tariffs are just 30%. Not so, she said, pointing to imported European products she sells that now carry tariffs of 65% up to a whopping 167%.
“So, I obviously cannot bring product into my store,” she said, calling it a tariff “spin out.”
“There is no way to plan, forecast, anticipate. We’re just all holding our breath,” she said.
Furthermore, customers are feeling the effects of Trump’s economy, as they’re spending less. Riceberg bemoaned she typically has blonde hair — but no longer.
“I can’t afford to hair color as a blonde anymore. The costs are everywhere, it’s in the packaging, it’s in the merchandise. There is not one aspect that has not been impacted by these tariffs, these illegal taxes,” she said, later adding: “All we’re doing is spending money and I don’t see any return for it.”
Riceberg called it frustrating and scary.
“We are going to kill Main Street and if we’re not already in a depression, we’re going to be,” she warned. “There is no way small business can sustain. And honestly, these tariffs, these taxes, they are the final nail in the coffin of small business.”
The meltdown left Mattingly gobsmacked.
“I have about 34 questions I would like to ask you. Just quickly, how you doin’? You doin’ ok?” he asked.
Riceberg said she sees herself as a retail champion, who just wants to see her country and stores thrive. She demanded that viewers get involved, go into their local stores and write to their elected representatives.
“You got to shout out and say that we’re hurting here,” she said.
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