|
Town: Chamber’s Quarterly Meeting with the Town of Los Gatos on 3/5/25
Last week we had a productive quarterly meeting with the Town of Los Gatos. Of the many topics we discussed around economic vitality, The Chamber proposed that the Town partner with us to make our Taste of Los Gatos Street Festival (9/6/25), where North Santa Cruz Avenue in the downtown is closed to traffic, into an International Culinary and Culture Festival. The long-term vision is to make this event a 2-day festival as renowned as Campbell Oktoberfest or the Half Moon Bay Pumpkin Festival.
National: Key Takeaways on Tariffs and Their Potential Impact
The Trump Administration has imposed new tariffs on steel, aluminum, and imports from Canada, Mexico, and China, prompting retaliatory measures from these trade partners. Today the trade war is expanding to Europe, with Trump threatening a 200% tariff on European wine, cognac, and other alcohol imports in response to the EU’s planned tariffs on American whiskey and other goods. Markets have reacted negatively, fearing further economic disruption and recession risks.
For Los Gatos businesses, these tariffs could mean higher costs for food ingredients, packaging, and imported goods, impacting restaurants, specialty food shops, and retailers. Home construction and remodeling businesses will likely face rising costs for lumber, steel, and fixtures, while retailers may struggle with higher prices on consumer goods. The potential tariffs on European alcohol could hurt local restaurants, wine shops, and bars, forcing price adjustments or changes in suppliers.
Beyond immediate price hikes, these tariffs may reshape trade patterns, requiring businesses to adjust supply chains and manage shifting consumer demand. With inflation concerns already present, local businesses should prepare for potential slowdowns in spending. The Chamber will continue monitoring developments and provide updates on their impact. Find up-to-date Reuters news about tariffs here.
National: UPDATE: Corporate Transparency Act Won’t be Enforced For Small Businesses
Good news: Last week the U.S. Treasury Department suspended enforcement of the Corporate Transparency Act for all U.S. citizens and domestic reporting companies, who no longer need to file a Beneficial Ownership Information report. The full announcement can be found here.
| 
