Tariffs Threaten Survival of U.S. Small Businesses, Hit Owners Hard

American small businesses are struggling under the weight of tariffs, with many owners expressing concerns about rising costs, shrinking profit margins, and the risk of closure. Many businesses report they must either raise prices, slow hiring, delay expansion, or take emergency financial measures to stay afloat, as they lack the financial buffers of larger companies. Some small business owners are attempting to offset tariff costs by seeking alternative suppliers in countries with lower tariffs or by sourcing goods domestically, but such shifts are often difficult and slow. Uncertainty caused by fluctuating trade policies and the unpredictability of tariff changes has further complicated planning and operations for small businesses. Additionally, some Chinese exporters are reportedly offering illicit workarounds to help U.S. companies evade tariffs, underscoring the disruptive impact of the trade war on both sides. Industry groups and local chambers of commerce continue to advocate for exemptions or relief for small businesses, warning that without intervention, many may not survive.