Tariffs are expected to worsen the divide between Main Street and Wall Street

Even as the Trump administration says the goal of newly issued tariffs is to bring manufacturing and other jobs to the United States, the moves are widely expected to inflict economic pain on businesses of all sizes. But small-business owners and organizations say there's a disconnect on who will be hurt the most, with most feeling larger businesses will be far more able to weather the economic storm to come.

The Trump administration imposed a near global 10% tariff earlier this month, as well as much higher tariffs on goods from China that can total up to 245% but some estimate cost an average of 124%. Another set of sweeping, so-called retaliatory tariffs set to go into effect earlier in April was delayed for 90 days after financial markets saw massive drops.

In a battle for survival, small businesses are at a disadvantage, said John Arensmeyer, founder and CEO of the Small Business Majority, a Washington, D.C.-based advocacy organization for small businesses.

"Every business is affected by this but small businesses don't have the flexibility to come up with extra cash to purchase inventory ahead of time or to quickly find other sources," Arensmeyer said. "And they are not in a position to take a loss the way a bigger business can."

https://www.bizjournals.com/seattle/news/2025/04/22/tariffs-small-business-trump-china-tips-2025.html