Small-business owners rush to safeguard their companies against Trump’s proposed tariffs

Economists generally oppose tariffs, as they can increase prices for consumers, which many business executives are warning about. Small business owners struggled to adapt to Trump’s previous tariffs and expect more challenges with the new proposed ones. While Trump’s team believes his tariffs have created jobs and investment without inflation, analysts disagree and predict higher inflation and lower growth. Small business owners like brewer Chris Smith and stationery company founder Angie Chua are already feeling the impact and considering ways to mitigate the potential cost increases. Wine shop owner Hadley Douglas fears that tariffs could harm domestic industries and small distributors, affecting the availability of both imported and domestic goods. Many small businesses are concerned about the potential impact of tariffs, with some unable to stockpile inventory or accelerate purchases in preparation. Amid uncertainties about future trade policies, businesses are bracing themselves for potential price hikes and trying to determine the best course of action to protect their businesses and customers.

Photo credit
www.nbcnews.com