New Tariffs Will Devastate Small Businesses

For Immediate Release: 
Wednesday, April 2, 2025

Statement from Small Business Majority Founder & CEO John Arensmeyer explaining why new tariffs are deeply concerning for America’s entrepreneurs

 
“Far from a ‘Liberation Day’ today for small businesses, President Trump’s latest announcement that there will be new tariffs – including 10% on all imports – could spell doom for many small firms. We’ve heard from small business owners who said that any cost increases can be devastating for businesses already operating on thin margins. And widespread tariffs of the type the president just announced will mean most small businesses have no choice but to pass their costs on to customers. Larger businesses, however, are more likely to have flexibility to absorb increased overhead, keeping prices lower and undercutting their smaller competition.
 
Given these problems, it’s no surprise that Small Business Majority’s research found 53% of small businesses are concerned about tariffs negatively impacting their business and 77% are concerned about announced tariffs negatively impacting the U.S. economy as a whole. 
 
President Trump’s policy of revenge through tariffs is deeply irresponsible because of the collateral damage it will cause throughout the United States, including the destructive impact his all-out trade war will have on small businesses. There is no excuse for treating small businesses this badly and it is simply unacceptable that President Trump continues to so callously and carelessly toy with the fates of America’s entrepreneurs to suit his own goals.”

About Small Business Majority

Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 85,000 small businesses and 1,500 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.

Press State: 
National