Trump Tariffs Pressure US Businesses, Supply Chains

President Trump announced new tariff rates on over two dozen countries, effective August 1st, maintaining the original deadline despite prior pauses and failed tariff deal goals. This ongoing tariff uncertainty frustrates businesses and lawmakers alike, with leaders expressing concerns about the instability impacting supply chains and business planning. Many companies struggle to adapt, with some facing the possibility of ceasing operations or needing to pass increased costs to consumers, particularly in sectors dealing with commoditized goods. Small business owners are also feeling pressure from inflation, tariffs, and economic uncertainty, with more than one-third planning to sell within a year amid succession planning challenges and concerns over fair valuation. The combination of tariff pressures and broader economic stressors is driving significant strain across the business community, prompting calls for more strategic support and stable trade policies.