Tariffs impacting local bike shop in North Branford
WFSB 3
[{'start': '0.000', 'end': '5.400', 'text': 'sold a bike in 5 weeks. Ever since the'}, {'start': '2.879', 'end': '8.480', 'text': 'announcement came from the Trump'}, {'start': '5.400', 'end': '10.240', 'text': 'administration, everything froze.'}, {'start': '8.480', 'end': '12.320', 'text': 'New at 6, a Connecticut based company'}, {'start': '10.240', 'end': '14.240', 'text': 'that designs and builds ebikes is'}, {'start': '12.320', 'end': '16.720', 'text': "feeling the brunt of President Trump's"}, {'start': '14.240', 'end': '19.039', 'text': "tariff policy. That's because so many of"}, {'start': '16.720', 'end': '20.880', 'text': 'their key parts come from China. Matt'}, {'start': '19.039', 'end': '22.800', 'text': 'McFarland is your reporter covering New'}, {'start': '20.880', 'end': '25.039', 'text': "Haven County. He's got the story tonight"}, {'start': '22.800', 'end': '27.599', 'text': 'on what this North Brford business is'}, {'start': '25.039', 'end': '29.519', 'text': "dealing with. It's a small team of five"}, {'start': '27.599', 'end': '31.760', 'text': 'that makes up the crew at Spark Cycle'}, {'start': '29.519', 'end': '33.840', 'text': 'Works. Every single bike is completely'}, {'start': '31.760', 'end': '35.840', 'text': 'custom. But owner Matt Shell is worried'}, {'start': '33.840', 'end': '38.480', 'text': 'they might have to get even smaller.'}, {'start': '35.840', 'end': '40.879', 'text': "It's devastating to have to talk to your"}, {'start': '38.480', 'end': '42.480', 'text': 'team about this kind of stuff. These are'}, {'start': '40.879', 'end': '44.079', 'text': 'people that I really care about. For the'}, {'start': '42.480', 'end': '45.680', 'text': "past 7 years, they've been designing and"}, {'start': '44.079', 'end': '48.800', 'text': 'building electric bikes and these'}, {'start': '45.680', 'end': '50.719', 'text': 'emopeds that top out at 35 mph and are'}, {'start': '48.800', 'end': '52.879', 'text': 'street legal. So going from that process'}, {'start': '50.719', 'end': '54.559', 'text': 'to grinding and then paint is about 2'}, {'start': '52.879', 'end': '56.160', 'text': 'weeks. And while the welding, the paint,'}, {'start': '54.559', 'end': '58.559', 'text': 'and the seats are all done right here in'}, {'start': '56.160', 'end': '61.120', 'text': 'Connecticut, the computer, motor, and'}, {'start': '58.559', 'end': '63.920', 'text': 'batteries all come from China. So those'}, {'start': '61.120', 'end': '66.479', 'text': 'components make up about 50% of the cost'}, {'start': '63.920', 'end': '68.320', 'text': "of producing that bike. Um, and there's"}, {'start': '66.479', 'end': '71.680', 'text': "there's no other option. I got nowhere"}, {'start': '68.320', 'end': '73.360', 'text': 'else to go. And so I have to account for'}, {'start': '71.680', 'end': '75.360', 'text': 'the tariffs on those parts. Matt says'}, {'start': '73.360', 'end': '77.119', 'text': 'even if he had batteries made in the US,'}, {'start': '75.360', 'end': '79.119', 'text': 'the cells would still have to be shipped'}, {'start': '77.119', 'end': '81.920', 'text': 'over. He says their mopeds sell for'}, {'start': '79.119', 'end': '83.680', 'text': 'about $4,500. But if the tariffs stay,'}, {'start': '81.920', 'end': '85.920', 'text': 'that price will go up to about seven'}, {'start': '83.680', 'end': '87.280', 'text': 'grand. My big concern right now is I'}, {'start': '85.920', 'end': '89.280', 'text': 'actually have a shipping container on'}, {'start': '87.280', 'end': '91.680', 'text': 'the water and that shipping container'}, {'start': '89.280', 'end': '93.360', 'text': 'got hit with 45% tariffs and I have a'}, {'start': '91.680', 'end': '96.079', 'text': 'shipping container of batteries which'}, {'start': '93.360', 'end': '97.520', 'text': 'got hit with the full tariffs. And so we'}, {'start': '96.079', 'end': '99.439', 'text': "now have to figure out how we're going"}, {'start': '97.520', 'end': '101.840', 'text': 'to combat this. Matt says with so much'}, {'start': '99.439', 'end': '103.920', 'text': "uncertainty, it's hard to make decisions"}, {'start': '101.840', 'end': '105.360', 'text': 'pertaining to the company, but he adds'}, {'start': '103.920', 'end': '106.960', 'text': "they're already having some pretty"}, {'start': '105.360', 'end': '109.040', 'text': "difficult conversations. We're going to"}, {'start': '106.960', 'end': '110.720', 'text': 'get the container in of parts next week,'}, {'start': '109.040', 'end': '112.320', 'text': "you know, but if we don't sell parts, we"}, {'start': '110.720', 'end': '113.680', 'text': "don't sell bikes within a week, we're"}, {'start': '112.320', 'end': '115.520', 'text': "going to have to cut. Matt adds they've"}, {'start': '113.680', 'end': '117.439', 'text': 'dealt with challenges before getting'}, {'start': '115.520', 'end': '120.000', 'text': 'through the pandemic and when a burglar'}, {'start': '117.439', 'end': '122.719', 'text': 'stole dozens of bikes a few years ago,'}, {'start': '120.000', 'end': '125.200', 'text': 'bouncing back, but this is different.'}, {'start': '122.719', 'end': '126.920', 'text': "We're just stuck in this endless loop."}, {'start': '125.200', 'end': '129.920', 'text': 'Um,'}, {'start': '126.920', 'end': '132.239', 'text': 'so all you can do is take it day by day'}, {'start': '129.920', 'end': '133.440', 'text': 'and try to count your pennies and keep'}, {'start': '132.239', 'end': '134.720', 'text': 'it small, but you also have to be'}, {'start': '133.440', 'end': '137.040', 'text': "realistic. We don't know what's going to"}, {'start': '134.720', 'end': '139.360', 'text': 'happen here if you start looking for'}, {'start': '137.040', 'end': '141.440', 'text': "other jobs because you know we've had"}, {'start': '139.360', 'end': '143.440', 'text': 'some crazy things happen to our business'}, {'start': '141.440', 'end': '145.040', 'text': 'and this has been the absolute worst.'}, {'start': '143.440', 'end': '148.879', 'text': 'Your reporter in North Brford, Matt'}, {'start': '145.040', 'end': '148.879', 'text': 'McFarland, Channel 3 Eyewitness News.'}]