Small businesses, comprising 98% of all retailers and supporting over 13 million jobs, are facing increasing challenges due to rising tariffs. These import taxes, which are paid by U.S. companies rather than foreign governments, place significant financial strain on Main Street businesses, including retailers, restaurants, and manufacturers.
For small retailers operating on tight margins, tariff-driven cost increases are difficult to absorb. Many are forced to raise prices, directly impacting consumers. This, in turn, contributes to a decline in consumer confidence, reducing spending at local shops and further squeezing small businesses.
Compounding the issue is the limited availability of domestically sourced goods. While many small businesses prioritize buying American-made products, some items are simply not produced in the U.S., leaving importation, and associated tariffs, as the only option.
Without relief, the long-term impact may include reduced economic activity, job losses, and permanent closures of local stores. WR continues to monitor these issues and advocates for balanced policies that support the long-term success of small businesses and the communities they serve.
