March 28, 2025 - 23:37
As President Trump's tariffs are set to take effect next week, small business confidence has significantly declined. The impending tariffs, which will affect various industries, have raised concerns among entrepreneurs about the potential impact on their operations and profitability.
Tom Sullivan, the vice president of small business policy at the US Chamber of Commerce, highlighted the anxiety felt by small business owners regarding these changes. Many are worried about increased costs for materials and goods, which could lead to higher prices for consumers and reduced demand.
The uncertainty surrounding the tariffs has created a challenging environment for small businesses, which often lack the resources to absorb such financial shocks. As these tariffs loom, many entrepreneurs are reevaluating their strategies and exploring ways to mitigate potential losses. The overall sentiment in the small business community reflects a cautious outlook as they brace for the upcoming economic shifts.
