BOOM: DEMENTED RETARD CLOWN tRUMP IS DECIMATING 35MIL SMALL BUSINESS OWNERS
newsweek.com
Apr 9, 2025
Panic is currently gripping the American small business community, with owners expressing fear that the latest round of tariffs imposed by the Trump administration could drive up costs and jeopardize their operations.
Why It MattersThere are nearly 35 million small businesses currently operating in the United States, according to the U.S. Small Business Administration, which employed around 46 percent of all American workers in 2024 and contributed approximately 44 percent of GDP.
While the administration has defended the measure as necessary to amend surging trade deficits and restore American manufacturing, it has sparked anxiety about potential consequences for domestic businesses and broader concerns that President Donald Trump's efforts to overhaul global trade could ultimately harm American consumers.
What To KnowAccording to a survey from the National Federation of Independent Business (NFIB), small business optimism receded in March to 97.4, below the 51-year average of 98 and well below the reading of 101.3 that analysts had anticipated. Meanwhile, the net percentage of business owners expecting improved conditions dropped by 16 points from February to a net negative 21 percent. This marks the third straight monthly decline and the steepest monthly drop since December 2020.
"The implementation of new policy priorities has heightened the level of uncertainty among small business owners over the past few months." NFIB Chief Economist Bill Dunkelberg said. "Small business owners have scaled back expectations on sales growth as they better understand how these rearrangements might impact them."
The NFIB's survey, based on responses from over 500 small business owners throughout March, took place before Trump's " Liberation Day" speech, in which he unveiled a baseline 10 percent tariff on all global imports, alongside country-specific reciprocal duties on dozens of America's trading partners. The latter took effect on Wednesday, as did the 104 percent tariffs on Chinese imports, which were raised to this level after Beijing missed the deadline to withdraw its 34 percent retaliatory tariff on U.S. goods.
Forklifts move shipping containers at PortMiami on April 7, 2025, in Miami, Florida. Joe Raedle/Getty ImagesSmall business owners are now taking to social media to voice their concerns about the new tariffs. Members of the Reddit community r/smallbusiness shared firsthand accounts of the early impacts, ranging from soaring import costs to foreign distributors severing relationships.
One Reddit user wrote: "Just got an e-mail from one of our Chinese distributors saying they will no longer distribute their products in the U.S. with the reason offered as, effectively, the U.S. has become too difficult of a market to continue selling to, and they make more money elsewhere."
"I'm looking into importing them ourselves but I'm already hitting walls and the added expense is enormous," the post continued.
Another shared a bill sent to them from DHL, requesting $2,483.21 in import duties on a $3,380 order of "aluminum parts from China." The user pointed out that this 73 percent import tax was "before Trump's latest increase."
Billionaire hedge fund manager Bill Ackman, who endorsed and donated to Trump's 2024 presidential campaign, said that small business owners had approached him with similar concerns.
"I am receiving an increasing number of emails and texts from small business people I do business with or have invested in, expressing fear that they will not be able to pass on their increased costs to their customers and will suffer severely negative consequences," Ackman posted to X, formerly Twitter, on Wednesday.
He urged the president to enact a 90-day pause on the tariffs, claiming that this would allow Trump to "accomplish his objectives without destroying small businesses in the short term."
African and Indian-made imported clothes at the "O.K. Mike" resort wear store in Los Angeles as seen on April 3, 2025. Damian Dovarganes/AP PhotoJohn Arensmeyer, founder and CEO of the advocacy group Small Business Majority, warned that the latest tariff announcements "could spell doom for many small firms" and that those already operating on thin margins will "have no choice but to pass their costs on to customers."
While Arensmeyer said that larger firms are better positioned to absorb the rising costs, concern over the tariffs seems to have spread throughout the broader business community.
A new poll by Endeavor Business Intelligence, conducted April 3-6, found that 89 percent of U.S. businesses expect costs to rise due to Trump's tariffs, with 61 percent anticipating a double-digit increase. Over half (51 percent) of the over 400 business leaders surveyed said they plan to raise their prices significantly, with an additional 11 percent opting for smaller increases.
What People Are SayingMelissa Minkow, global director of retail strategy at business advisory firm CI&T, told Newsweek: "Unfortunately, there's no way tariffs won't impact retailers that have been exporting to the U.S. For the retailers who decide the U.S. market provides enough business for them to find it worth it to continue exporting, they will have to grow their customer base in order to make up for the losses occurring either from lower sales or more squeezed margins."
President Donald Trump, at a National Republican Congressional Committee (NRCC) dinner on Tuesday: "China will now pay a big number to our Treasury. This is all taxes. Don't let them keep telling you that this is a tax on our people. I hate that. You know, they say it's a tax. No. Often much of it is paid."
During the event, Trump said that countries were now " kissing my ass" and "dying to make a deal" on the new tariffs.
John Arensmeyer, founder and CEO of Small Business Majority, in a press release: "We've heard from small business owners who said that any cost increases can be devastating for businesses already operating on thin margins. And widespread tariffs of the type the president just announced will mean most small businesses have no choice but to pass their costs on to customers. Larger businesses, however, are more likely to have flexibility to absorb increased overhead, keeping prices lower and undercutting their smaller competition."
He added: "President Trump's policy of revenge through tariffs is deeply irresponsible because of the collateral damage it will cause throughout the United States, including the destructive impact his all-out trade war will have on small businesses. There is no excuse for treating small businesses this badly and it is simply unacceptable that President Trump continues to so callously and carelessly toy with the fates of America's entrepreneurs to suit his own goals."
What Happens NextThe reciprocal tariffs on numerous countries went into effect on Wednesday. The White House has stated that it has no intention of pausing or postponing the duties, though Trump has hinted he may consider making "fair deals" with select nations.
On Wednesday, China announced that it would impose an 84 percent tariff on all U.S. imports, which the country's Finance Ministry said would take effect on Thursday. |
