Uncertainty about President Trump’s ever-changing tariff agenda is already already Hit the small business Operators say, strict, and threatening to survive.
Baseline with 10% tax on all imported products effectively and Country-based tariffs spreadBusiness operations have become significantly more challenging for about 35 million small initiatives in the United States, owners told CBS Moneywatch.
They are one of the most stress challenges? Determine a sufficient price for absorbing new tariffs on imports without taking away customers.
Thirty percent of small business owners surveyed by the National Federation of Independent Business in March said they planned to raise prices – the largest part of the last one year, the joint economic committee analysis showed. Increase the price One way to offset the rising cost, while the cost of labor – the cost of trimming – is another option.
JC has discovered that employment in smaller businesses, including less than 10 employees, has been reduced to 3% – or 366,400 jobs – since President Trump took over. It has invented by 1.2% in the first months of President Biden in the first month of the term and by comparing Jesse to 1.2% in the first term of President Trump.
“Intense Price Increase” in 16 years
Shayai Lucaro, owner of a small flower design business in Laguna, New Mexico, says he imported a high amount of flowers from Canada, Colombia Ecuador and Peru in Laguna. Since he is located in the desert, local farms and gardens cannot produce flowers throughout the year.
Luckero recently said that the flower business “The sharp price hike” he said, when he said, when a single rose price goes from 65 cents to stem between 65 cents to 84 cents from $ 1.89 to $ 2.44 cents.
“We have received email from different farms with whom we work with Mother’s Day,” Lucaro told CBS Moneywatch. As a result, he raised his price, wrist corpses are usually sold for $ 40, now the price is $ 50.
“It should have been almost enough for me to charge, but if my client is not rich, people buy from me or they go somewhere else I had to take into account?” Lurero said that the future of his business is uncertain, as he is a sky -kissed, that his own expenses are uncertain.
“I am transparent to try to understand them with customers, but if it is too much, I may have to stop,” he said. “It’s completely different environment” ”
Chinese products are “unreasonable”
Some businesses are protected from tariffs, but small structures, which are operated in thin margins, are at the most risky. Some major businesses import goods before the tariff is effective, stocked inventory. With less cash in hand, small business did not have the same power.
“Owners of small businessmen are innovative, driven and scrap-they often work in razor-thin margin and are constantly finding new ways,” Sen Magi Hassan, a rankings member of the Joint Economic Committee, said in a statement. “However President Trump’s tariff is unnecessary Causes abundance of uncertainty For smaller traders, forcing them to trim, raising prices for their customers and even close their doors, “he added.
Mike Roach, a 50-year-old female clothing store in Portland, Portland, co-owned by Mike Roach, mainly sold labels built in India and China.
He ordered the new season valuable merchandise three to five months ago before tariff in both countries came into effect. Today, more than 145% of tariffs apply to products from China, while the product from India to the United States has 10% baseline duty.
“The companies we work with are trying to determine what they are about to do. At that level, Chinese products are very unwanted,” he said. “This is a huge threat to the future of our business.”
Roach is hoping that this is not the end of the 50th year of business in his shop, but it is a potential reality that he faces.
“It was the worst and most uncertain situation among us,” he said. “It is worse than anything else to know what to do because of the uncertain reason and what the future is about to keep up.”
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