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The tariff strategy is backfiring and small businesses are the collateral damage


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  Tariffs are a quiet tax that hurts small businesses already facing rising costs, broken supply chains, and labor pressure.

The article from Fortune discusses how the Trump administration's tariff strategy, intended to protect American industries, has inadvertently harmed small businesses across the United States. Small business owners, such as those in manufacturing and retail, are facing increased costs for imported goods and materials, which they are often unable to pass on to consumers due to competitive pricing pressures. This has led to reduced profit margins, difficulties in planning, and in some cases, the need to lay off workers or even close down operations. The article highlights specific examples, like a furniture maker in North Carolina struggling with higher costs for imported wood, and a small appliance retailer in Ohio dealing with pricier components. The overall sentiment among these small business owners is one of frustration and a feeling of being overlooked in the broader trade war narrative, with many calling for a more targeted approach to tariffs that considers the impact on small enterprises.

Read the Full Fortune Article at:
[ https://fortune.com/article/tariff-strategy-backfiring-small-businesses/ ]

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