Tariffs increase costs for New York's cannabis industry

New York's legal cannabis industry is facing challenges due to tariffs imposed by the Trump administration. State officials and cannabis growers are concerned about the impact of these tariffs on their operations. The U.S. government has placed a 20 percent tariff on items imported from China. This is in addition to a 25 percent tariff on agricultural products used in the cannabis industry. These increased costs are making it more expensive for farmers and retailers to operate, even as the price of legal weed decreases. John Kagia, a state policy director, highlighted that these tariffs could affect how consumers budget for cannabis. Some retailers are feeling the pressure. Karli Hornick-Miller, co-founder of a cannabis company, says they expect to lose money this season due to these tariffs. Overall, the situation has created uncertainty for New York's cannabis industry as they navigate rising costs amidst shifting market conditions.