Trump's Tariffs Hit American Small Businesses Hard
President Trump's tariffs are causing concern among American small businesses. Sarah Wells, owner of Sarah Wells Bags, has seen her costs increase by $15,000, while others struggle with unexpected financial burdens and planning difficulties.
The 10% tariff on global imports, imposed within Trump's first 100 days, has had a significant impact. Alfred Mai, CEO of ASM Games, may have to raise prices to offset the increased costs. Danielle Inman, owner of Klem's, finds it challenging to navigate the tariff complexities, especially when planning for the crucial fourth quarter. Rozalynn Goodwin, co-founder of Confidence by GaBBY Goodwin, even saw a major retail deal stall due to these tariffs.
Small business owners like Danny Reynolds, of Stephenson's of Elkhart, feel that these tariffs take control out of their hands. They are not alone in their opposition; many unspecified groups have started an initiative to support small U.S. businesses opposing harmful tariffs and seeking a voice in Washington, D.C.
The administration's tariff policy is not supported by American small businesses. It halts hiring, innovation, and growth for many, as seen in Sarah Wells' business. With increased costs and planning difficulties, small businesses are left to adapt or face potential closures.
