Trump-Era Tariffs Still Hurting Small Businesses

Even years after their initial implementation, tariffs imposed during the Trump administration are still creating significant hurdles for small business owners across the country. These tariffs, designed to protect domestic industries, have instead led to increased costs for imported goods and materials, directly impacting the bottom lines of many small businesses.

Marissa Held-Nordling, owner of a children's boutique in Minnesota, expresses concerns about her ability to stock her shelves. The higher costs associated with imported clothing and accessories make it difficult to compete with larger retailers. She worries about passing the increased expenses onto her customers, potentially losing sales.

Beth Benike, who was named Minnesota's "Small Businessperson of the Year," shares similar anxieties. Her business relies on imported components, and the tariffs have significantly increased her production costs. Benike fears that the added financial strain could put her personal finances at risk, potentially leading to the loss of her home.

Economic analyst Kyla Scanlon argues that these tariffs create an unnecessary burden on small businesses. She explains that tariffs disrupt established supply chains and force businesses to absorb higher costs or raise prices, both of which can negatively impact their competitiveness and profitability. Scanlon suggests exploring alternative trade policies that promote fair competition without harming small businesses.