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How Trump's tariffs are crushing small businesses while big retailers weather the costs
CNBC· 2025-11-07 16:32
Core Insights - U.S. small businesses are significantly impacted by President Trump's tariffs, struggling to cope with increased costs compared to larger retailers [1][3] - The complexity of supply chains for small businesses has escalated, with some reporting a tenfold increase in challenges [1] - Small businesses account for approximately 43% of U.S. GDP, highlighting their importance to the economy [2] Impact on Small Businesses - Small business owners report a decline in top line revenue year-over-year due to tariffs [2] - The current economic climate, exacerbated by tariffs, poses a threat to the livelihoods of small business owners [2] - Many small businesses lack the resources to stockpile inventory, making them more vulnerable to tariff impacts [2]