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How Trump’s tariffs are crushing small businesses
U.S. small businesses are reeling under the weight of President Donald Trump’s tariffs.
Unlike large retailers, many of which have the resources and scale to blunt the effects of higher costs, many small companies facing bigger tariff bills are struggling to survive.
Eunice Byun, the CEO of Material Kitchen, a small business that sells kitchenware for the home, said the complexity of her supply chain has increased tenfold.
“We’ve definitely taken it on the chin year-over-year in terms of our top line revenue,” Byun told CNBC.
Anjali Bhargava, the owner of Anjali’s Cup, which sells chai concentrate and turmeric blends, said the current economic climate and tariffs are threatening her livelihood.
“It’s been really frustrating because I don’t have the resources to stockpile,” Bhargava said.
The U.S. has about 36 million small businesses, according to the Small Business Administration, which account for about 43% of U.S. GDP.
So what impact are tariffs having on small businesses, and how are larger retailers able to skirt their impact? CNBC spoke with small business owners to find out.
