Small business forced to close after tariffs

You did. But US companies, they're navigating these shifts in real time. So we actually went back to one small business we've reported on before to get a snapshot of the impact that this has had. It is the last day.

Jennifer Bergman is the owner of West Side Kids, an independent New York City toy store founded by her mother. The toys and the books and the games-- they're memories that we all cherish from our childhood.

After 44 years, West Side Kids is closing. Our ultimate competition is online shopping.

That was her biggest challenge when we met in December. Then the tariffs came. Where do most of the products in your store come from? China. And what percentage? 90%, I'd say.

Big-box retailers are better able to absorb tariffs, with the ability to buy in bulk and stockpile. By the summer, Bergman's business had taken a big hit. With the announcement of the tariffs, people just got really scared and stopped spending money.

The most recent CBSNewspolls show that Americans increasingly believe the economy is good, but the majority expect prices to rise in the coming months. How much of a factor were the tariffs in that decision? It was the final nail in the coffin, definitely. You're going to look back in this room one last time. Yeah. What's that going to feel like? It's going to feel good. We've made a difference-- to make a child smile, to make a child laugh. And we did that. And we did it for 44 years.

While it may be the end of West Side Kids, Jennifer Bergman wouldn't change a thing.

I was 14 when the store opened. I'm 58 now. I grew up here. It's my home. I met some amazing people. I wouldn't have wanted to do anything else. Now, this is one emotional example of a small business that has struggled. At the same time, the administration's trade strategy has brought in $108 billion in tariff revenue through the end of last month. And companies and countries, Maurice, around the world, they've made big pledges to invest in the US. OK. Kelly O'Grady, thank you.