Tariffs: A Nightmare for Global Small Businesses

©iStock/freehandz

Global small businesses know that tariff rates remain sky high by historical levels and will keep pressuring profits. The 90-day window for a pause on goods from China while negotiations continue offers little clarity on where the levies will ultimately settle, and Trump has warned they could soar again.

Data from the American Bankruptcy Institute showed an April uptick in a type of bankruptcy filing typically used by small businesses, which it said “signals persistent distress.” At the same time, slumping import volumes at the Port of Los Angeles — the nation’s busiest — had warned of a brewing supply shock.

Small businesses that import from China are taking a beating.  Yet, despite this, Trump and his administration write this glorified piece (total misinformation) about how Trump is fixing problems and unleashing a new era of opportunity for small businesses.  If you believe that, then you believe that Pope Leo XIV is not Catholic.

from The Global Small Business Blog https://ift.tt/BGqbZJY