{"id":23515,"date":"2025-05-05T16:50:11","date_gmt":"2025-05-05T16:50:11","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/tariffs-could-put-them-under-some-small-business-owners-say\/"},"modified":"2025-05-05T16:50:11","modified_gmt":"2025-05-05T16:50:11","slug":"tariffs-could-put-them-under-some-small-business-owners-say","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/tariffs-could-put-them-under-some-small-business-owners-say\/","title":{"rendered":"Tariffs could put them under, some small business owners say"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Uncertainty around President Trump&#8217;s ever-changing tariff agenda is already <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-tariffs-china-small-business-tax-imports-impact\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">hitting small businesses<\/a><\/span> hard, and threatening their very survival, operators say.\u00a0<\/p>\n<p>With baseline 10% taxes on all imported goods in effect and\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-reciprocal-tariffs-liberation-day-list\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">country-based levies looming<\/a><\/span>, business operations have become significantly more challenging for the U.S.&#8217; nearly 35 million smaller enterprises, owners told CBS MoneyWatch.\u00a0<\/p>\n<p>One of the most pressing challenges they face? Setting prices high enough to absorb the cost of new duties on imports without driving customers away.<\/p>\n<p>Thirty percent of small business owners surveyed by the Joint Economic Committee in March said they planned to increase prices \u2014 the greatest share reported over the past year.\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-tariff-surcharges-amazon-temu-shein\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Raising prices<\/a><\/span> is one way to offset rising costs, while trimming expenses \u2014 including by reducing labor costs \u2014 is the other alternative.\u00a0<\/p>\n<p>Employment at small businesses with fewer than 10 employees declined by 3% \u2014 or 366,400 jobs \u2014 since President Trump took office, the JEC found. That compares with a 1.2% increase in hiring by small businesses in the first months of President Biden&#8217;s term, and a 0.1% decrease in the first months of President Trump&#8217;s first term, the JEC found.\u00a0<\/p>\n<h2>&#8220;Sharpest price increase&#8221; in 16 years<\/h2>\n<p>Shayai Lucero, owner of Earth and Sky Floral Designs, a small floral design business in Laguna, New Mexico, said she imports a high volume of flowers from Canada, Columbia Ecuador and Peru. Because she&#8217;s located in the desert, local farms and gardens can&#8217;t produce flowers year-round.<\/p>\n<p>Lucero recently experienced what she called &#8220;the sharpest price increase&#8221; she&#8217;s seen in her 16 years in the flower business, when the price of a single rose went from between 65 cents to 84 cents per stem to a range of $1.89 to $2.44.\u00a0<\/p>\n<p>&#8220;We received emails from several different farms we work with that said after Mother&#8217;s Day the tariff prices are going to go into effect,&#8221; Lucero told CBS MoneyWatch. She&#8217;s increased her prices as a result, with wrist corsages typically sold for $40, now priced at $50.\u00a0<\/p>\n<p>&#8220;That&#8217;s not nearly enough of what I should have charged, but because my clientele is not wealthy, I had to take that into account if would people purchase from me or would they go elsewhere?&#8221; said Lucero, adding that as her own costs skyrocket, the future of her business is uncertain.\u00a0<\/p>\n<p>&#8220;I have been transparent with customers to try to get them to understand, but if it gets to be too much, I may have to close,&#8221; she said. &#8220;This is a whole different atmosphere.&#8221;\u00a0<\/p>\n<h2>Chinese goods are &#8220;unsaleable&#8221;<\/h2>\n<p>Few businesses are immune to tariffs, but smaller establishments, which tend to operate on thin margins, are among the most vulnerable. Some bigger businesses imported goods ahead of tariffs going into effect, stockpiling inventory. With less cash on hand, small businesses did not have the same ability.\u00a0<\/p>\n<p>&#8220;Small business owners are innovative, driven and scrappy \u2014 they often operate on razor-thin margins and are constantly finding new ways to grow,&#8221; Sen. Maggie Hassan, ranking member of the Joint Economic Committee, said in a statement. &#8220;But President Trump&#8217;s tariffs are needlessly <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/economic-uncertainty-bad-for-business-trump-tariffs\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">causing immense uncertainty<\/a><\/span> for small business owners, forcing them to make layoffs, increase prices for their customers and even close their doors,&#8221; she added.<\/p>\n<p>Mike Roach, who co-owns Paloma Clothing, a 50-year-old womenswear store in Portland, Oregon, sells labels that are primarily manufactured in India and China.\u00a0<\/p>\n<p>He placed orders for a new season&#8217;s worth of merchandise three to five months ago, before tariffs on either country were in effect. Today, tariffs as high as 145% apply to goods from China, while a 10% baseline levy is in place on goods entering the U.S. from India.\u00a0<\/p>\n<p>&#8220;The companies we deal with are going through conniptions trying to figure out what they&#8217;re going to do. At that level, Chinese goods, are pretty much unsaleable,&#8221; he said. &#8220;That&#8217;s a huge threat to the future of our business.&#8221;\u00a0<\/p>\n<p>Roach hopes his store&#8217;s 50th year in business isn&#8217;t its last, but it&#8217;s a potential reality he&#8217;s facing.\u00a0<\/p>\n<p>&#8220;This is the worst and most uncertain situation we&#8217;ve ever been in,&#8221; he said. &#8220;This is way worse than anything else in terms of not knowing what to do and what the future is going to hold because of the uncertain factor.&#8221;<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n        <\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/megan-cerullo\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Megan  Cerullo<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24\/7 to discuss her reporting.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/tariff-small-businesses-future-jeopardy-price-hikes\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uncertainty around President Trump&#8217;s ever-changing tariff agenda is already hitting small businesses hard, and threatening their very survival, operators say.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":23516,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[1613,799],"class_list":["post-23515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-small-business","tag-tariffs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tariffs could put them under, some small business owners say - World News<\/title>\n<meta name=\"description\" content=\"President Trump&amp;#039;s tariffs could be &amp;quot;the nail in the coffin for many of us,&amp;quot; the owner of a Portland, Oregon, clothing store said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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