Washington (CNN)President Donald Trump imposed tariffs on Frenchwine, Italian cheese, and single malt Irish whiskey last year --and could escalate them by the end of the week. That's worryingowners of specialty shops, restaurants and importers, some of whomhave already raised prices on customers. \"We're faced with a bigdilemma. How much can we raise prices without losing our customerbase,\" said Lou Di Palo, who runs the 110-year-old Di Palo's inManhattan with his family. Most of what they sell, includingcheeses, meats and wine, is imported from Italy -- and that's notsomething Di Palo intends to change to avoid the cost of thetariff. \"If we have to shift a large portion of our inventory toAmerican-made cheeses, then we'd be just like every othersupermarket. That's not what people travel to Di Palo's for,\" hesaid. In October, the administration imposed a 25% tariff on avariety of goods worth $7.5 billion in retaliation for thesubsidies Europe provided to aircraft maker Airbus. But since then,the administration has threatened to hike the rate up to 100%because of a lack of progress in resolving the issue. A decisioncould come this week, when an initial review period ends. Dozens ofpeople testified before a US Trade Representative's Office hearinglast month, protesting the European tariffs, as well as anadditional set of duties Trump threatened over a French proposedtax on digital services -- which would affect large American techcompanies like Facebook and Google. Those tariffs would have hitFrench champagne and handbags, but Trump and French PresidentEmmanuel Macron have since agreed to a temporary truce. The Trumpadministration is targeting the iconic European goods, as well asimposing tariffs on aircraft in retaliation. Still, many of thosewho testified expressed frustration that wine, for example, wasbeing taxed over an issue that had nothing to do with them. \"It canbe hard for customers to understand why these retaliatory tariffsare impacting their lives,\" said Amanda Smeltz, the wine directorat Manhattan restaurants estela and Altro Paradiso, whose ownerrecently sent emails to customers asking them to submit writtencomments to USTR. It argued that the tariffs would make it hard forsmall businesses to survive. Smeltz fears that if a 100% tariff isimposed, certain items will disappear from the American market. \"Ifyou ever enjoyed a beautiful whiskey from Ireland or a fine bottleof wine on your birthday -- you can kiss those things goodbye,\" sheadded. The Trump administration is allowed to revise the tariffsevery six months, changing the products included and the rate ofthe duty. That makes it hard for businesses to plan for the future.\"We just don't know what's going to happen and its debilitating forour business,\" said Tom Gellert, principal of the Gellert GlobalGroup, which owns five US-based food importing companies, includingone of the biggest importers of cheese. The company has also paidnew tariffs on cheeses from a variety of European countries as wellas other products like olive oil from Spain, amounting to a totalof $3 million since October 18. It has postponed making new capitalinvestments in a cheese facility in New Jersey until there is moretrade certainty.

1. Summary. Write  aparagraph  that summarizes the main ideas in the article.You do not have to account for every single fact, just provide afairly complete description of the general themes.  Yoursummary should be  well-structured  withappropriate punctuation.  
2. Model. Provide an economic model/theory (fiscal policy, monetary policy, international trade, economicgrowth, etc.) and economic analysis of the article using theeconomic model/thoery that you chose.  Do not re-hashyour summary.
3. Graph. Insert anappropriate  graph(s)  of your economic modelusing MS Word drawing tools (or the equivalent). Please note,graphs showing some data is not an economic model, they are just aconvenient way of data representation. You need to include thegraph of your economic theory.
4. Economic implications. Provide an economicimplication of the case.