Trump Tariffs to Devastate Small Businesses, Consumers to Bear the Brunt

Blue Press Journal D.C. – The latest tariffs imposed by President Donald Trump are set to have a crippling effect on small businesses across the United States, with the average firm facing an annual hit of $856,000. According to estimates by the Chamber of Commerce, the tariffs, which took effect on August 7, will cost small business importers a staggering $202 billion annually.

Small businesses, which generate over half of the country’s new jobs, are the backbone of the US economy. However, the Chamber of Commerce warns that the tariffs will disproportionately affect these businesses, with 236,000 small importers, each with fewer than 500 employees, collectively bringing in over $868 billion worth of goods from abroad in 2023.

The National Retail Federation and the Chamber of Commerce, both of which have historically supported Republican candidates, are now sounding the alarm over the devastating impact of the tariffs. Despite their previous backing of the GOP, these organizations are realizing that the party’s policies are not as “pro-business” as they claimed.

The tariffs are expected to have a ripple effect on consumers, who will ultimately bear the brunt of the costs. According to a study by Goldman Sachs, US companies will shoulder 64% of the tariff costs, while foreign exporters will absorb only 14%. Consumers will be left to pick up the remaining 22%, with the study warning that companies will pass on two-thirds of the costs directly to consumers by October.

President Trump had claimed that China would “probably eat those tariffs,” but the reality is that the tariffs are a massive, regressive tax that will bleed small businesses dry and send prices soaring for consumers. The move has been widely criticized as a protectionist policy that will harm US jobs and the economy, rather than protecting them.

As tariffs take effect, small businesses and consumers brace for rising costs, questioning their survival. This situation highlights that the GOP’s “pro-business” policies may not be as beneficial as they seem.