Bismarck – As you prepare for your annual Fourth of July Celebration, what’s happening in our nations capital could have a direct impact on your celebration for years to come.
With about a week to go until Independence Day, for many of you a trip to the fireworks store is on your to do list. However, if trade talks between the U.S. and China fall apart, fireworks prices, could skyrocket.
It’s a tradition nearly as old as the nation itself, Fireworks on Independence Day.
But water could soon be thrown on the fuse of excitement that fireworks bring.
That’s because President Trump is proposing a new 25% tariff on goods from China, and you guessed it, fireworks would be on that list.
Davis Becker helps runs Bob’s Fireworks City in South Bismarck and tells KX News they are definitely keeping their eye on the President’s actions…
“The industry has tried their best, and trying to make that work, because we know how important the 4th of July is and the celebrating and how much fireworks means to people and their families, so we’re really working hard to continue that and to give people reasonable prices on fireworks as well as the best quality at the same time”, said Becker
If talks between Trump and Chinese president Ji Xinping break down, it’s feared that many smaller communities won’t be able to purchase fireworks for their towns anymore.
The tariff’s could also hurt family run business’, like Memory Fireworks here in Bismarck run by Shannon Knutson and her husband…
“We’re not gonna raise our prices this year, we have heard of some companies that are already raising their prices to prepare for this tariff, but we’re keeping our prices low we’re waiting and seeing until anything happens and we’re staying positive”, said Knutson.
And those Tariff’s would be a big problem, because 99% of all consumer fireworks originate in China, meaning you’ll be forced to pay the higher prices if the tariff’s are put into effect.
So enjoy the lower prices for now…because by Labor Day or New Years, these lower prices could go up in smoke.
Between 1998 and 2018 revenue for Consumer Fireworks has grown from 284 million dollars to nearly a billion dollars.