*** How Trump's tariffs are squeezing small businesses... ***
Trump likes rich people and big businesses and somehow forgets that there are other, yet no less important, groups that contribute significantly to the American economy.
Many runs the type of business President Trump doesn't seem to think much about when he raises or lowers tariffs.
Yet it's small business owners like who face unwelcome turmoil as Trump wages his trade war.
The sales are down from the time Trump took office.
In a regular year, you buy what you need and you invest. But now we only have time to focus on inventory, to keep ourselves afloat.
There's no time to think about growth.
It's just survival.
Trump has thrown thousands of American businesses off-balance with tariffs on some $3 trillion worth of imported goods that he has imposed and rescinded with almost no notice.
There's a new 10% tariff on most imports, rising to 25% for steel, aluminum, and automobiles. Starting in March, Trump's import tax on Chinese goods was 145% until he lowered it to 30% on May 12.
Trump says he wants to raise the cost of imports to encourage more domestic manufacturing.
** But in many cases, that's implausible, and the inevitable result of tariffs is simply higher prices and less consumer choice. **
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Source: Yahoo Finance
