Importers stockpile tequila, Phoenix bars brace for price hikes amid tariffs

An ASU economist discusses how tariffs will negatively impact consumers and restaurant owners.

In this story published April 9, 2025, in the Phoenix New Times:

The notion, presumably, is that those countries need to be penalized and we need to tariff their goods, but the tariff is not a penalty on foreign countries. The direct penalty will fall on us as consumers of food, as managers and owners of restaurants.

– Dennis Hoffman, director of the Center for Competitiveness and Prosperity Research and the Office of the University Economist