Small businesses struggle under Trump’s tariff whiplash: ‘I’m so angry that my own government has done this to me’
CNN
For some small businesses, the last week brought even more twists and turns to the past two months of President Donald Trump’s chaotic tariffs.
For some small businesses, the last week brought even more twists and turns to the past two months of President Donald Trump’s chaotic tariffs. The situation was already confusing, with stops and starts of tariffs at different levels. Then on Wednesday, a US court said Trump overstepped his authority in imposing most of those import levies – only for an appeals court on Thursday to pause the previous court’s ruling. The confusion has made it challenging for some small companies to plan, business owners told CNN. In certain cases, they have had to consider changing their product strategy, looking into shifting their supply chains, reducing staff hours or delaying products. “My fear is, if this continues, there’s going to be like the mass extinction of small businesses,” Julie Robbins, CEO of Ohio-based guitar pedal maker EarthQuaker Devices, told CNN. Trump announced blanket tariffs across the globe on April 2, and since then, his plans have changed on a regular basis. In early April, he issued a 90-day pause on reciprocal tariffs almost everywhere except China. Then, after ratcheting up total tariffs on Chinese imports to 145%, he declared smartphones and certain other electronics would be exempt from the reciprocal tariffs. The US and China agreed in May to roll back reciprocal tariffs for 90 days. And in late May, he threatened smartphone makers like Apple with 25% tariffs if they don’t make their phones in the US. He also agreed to push back levies on imports from the European Union until July 9.
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