Small Business Owners Brace for More Tariffs

As President Trump proposes new tariffs, small business owners are scrambling to protect their companies. Many are worried these higher tariffs could make things even tougher than before. Experts disagree with Trump's claims that his previous tariffs created jobs and didn't cause inflation. Analysts fear these new tariffs could lead to higher prices and slower economic growth. Chris Smith, who owns Virginia Beer Company, is already feeling the heat. Since 2018, he's been paying more for tap handles due to steel tariffs. Now, he's speeding up the purchase of a fermentation vessel from China. He's also keeping an eye on aluminum can prices. Angie Chua, who runs Bobo Design Studio, is also concerned. Her travel journals are made in China, which Trump threatened with 60% tariffs. Chua says this would be disastrous for her business. She can't afford to stock up or switch to U. S. suppliers. Instead, she's thinking of adding a tariff surcharge to her prices. Hadley Douglas, co-owner of Urban Grape wine shop in Boston, worries about her wine distributors. If European or South American wines get pricier, smaller distributors might go out of business. This could make it hard for U. S. wineries to get their bottles onto shelves. Not all businesses can stockpile inventory like big brands do. Joe Hakim, manager of Ackroyd’s Scottish Bakery, is holding off on ordering Easter chocolates. He's worried prices might jump due to potential tariffs.