Tom Sullivan, U.S. Chamber Senior Vice President for Small Business Policy, joined America’s Small Business Network this week to discuss how tariffs are hindering small business growth.
- “We hear one word over and over and over again, and that is uncertainty,” he said.
Why it matters: Of the 230,000 U.S. importers, 97% are small businesses. For many of them, a tariff increase can significantly impact their bottom line.
- With tight profit margins and limited financial flexibility, they may have to raise prices, absorb extra costs, or cut back on inventory and operations in their communities.
Sullivan said the U.S. Chamber was receiving calls from small businesses saying, “We need the tariffs to go down. Please help us navigate through this time.”