Small Businesses Nationwide Brace for Trump's Tariffs

Businesses across the United States are grappling with the impact of newly imposed tariffs from the Trump administration, which took effect over the weekend. Retailers, including toy stores like Hub Hobby in Minnesota, express deep concerns about rising import taxes, particularly on goods from China and Vietnam, where tariffs have surged up to 54%. Small businesses in the Philadelphia region and New Jersey also report worries about potential price increases due to the tariffs. In Chicago, family-owned boutiques are seeing significant shifts in vendor pricing, with some experts warning that the fashion industry could be set back decades. Store owners are faced with the dilemma of absorbing costs or passing them on to customers, which could threaten their livelihoods. As more tariffs are set to take effect, uncertainty looms over the future of small businesses reliant on imported goods.