Small business owners scramble to shield their companies from Trump’s planned tariffs

Economists typically oppose tariffs due to the likelihood of increased prices for consumers, a concern shared by many company executives. Small business owners who faced previous tariffs struggled to adapt, with the new tariffs proposed by Trump being steeper and more extensive. While the Trump administration believes that tariffs can create jobs and benefit the economy, analysts disagree and predict inflation and lower growth. Many small business owners, like brewer Chris Smith and stationery company founder Angie Chua, are already feeling the impact and preparing for potential price increases. This uncertainty is causing concern among businesses who rely on imported goods, like wine shops, as well as domestic industries. While larger companies may be able to stockpile inventory to mitigate tariff impacts, many small businesses lack the resources to do so. Overall, the looming threat of tariffs is causing unease and uncertainty among small business owners who are unsure how best to navigate the changing economic landscape.

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