On CNN’s The Lead, Tara Riceberg, owner of Tesoro in Beverly Hills, joined host Phil Mattingly to discuss the impact of President Trump’s tariffs after her business was destroyed in a Christmas Day fire.
Riceberg described the tariffs as “real taxes” that are driving up costs across her supply chain, including products she imports that now face steep duties. She cited European imports carrying tariffs from 65% to as high as 167%, saying, “So, I obviously cannot bring product into my store,” and calling the tariff regime a “spin out.”
She warned that there is “no way to plan” and that small businesses are “holding our breath” under the economic strain. In a vivid illustration of the broader impact, Riceberg noted that costs are affecting every facet of her operation, from packaging to merchandise, even joking that she can no longer afford to color her hair the way she used to because prices have risen.
“There is not one aspect that has not been impacted by these tariffs, these illegal taxes,” she told viewers, adding, “All we’re doing is spending money and I don’t see any return for it.” She warned that, without relief, they were “going to kill Main Street” and could face a depression. The moment left Mattingly gobsmacked, who asked, “I have about 34 questions I would like to ask you. Just quickly, how you doin’? You doin’ ok?”
Riceberg reaffirmed her role as a retail advocate and urged viewers to support local shops and contact their elected representatives. The exchange was framed as a human-facing example of how national tariff policy can affect small businesses and everyday costs.