US President Donald Trump’s tariffs have started to hit small businesses, leading them to raise prices for consumers. The impact of these tariffs is being felt across Main Street, with many retailers passing the cost on to their customers.
The tariff increase has made it more challenging for small businesses to remain competitive in the market. As a result, they are forced to adjust their pricing strategies to compensate for the added costs imposed by the US government.
This trend is expected to have far-reaching consequences for consumers, who may see prices rise as a direct result of the tariffs. The effect on small businesses and consumers alike is a significant concern for many, highlighting the need for policymakers to consider the impact of their actions on vulnerable sectors of the economy.
Source: https://www.ft.com/content/00f60959-a8a4-4de7-9089-f7ec1a2450ed