US Small Businesses Sound Alarm Over Trump's Tariffs Amid Crucial Holiday Season
As the holiday season approaches, many small businesses in the US are bracing themselves for a potentially disastrous outcome due to tariffs imposed by the Trump administration. Industry leaders have warned that these tariffs have driven a "massive" number of small firms out of business and increased prices on popular goods.
For some, like Joann Cartiglia, owner of Queen's Treasures, a toy company in New York, the impact has been devastating. With her retirement savings invested in the business, she now fears she will never be able to retire. "I honestly feel the government is putting me out of business," Cartiglia said.
The tariffs have hit small businesses hard, particularly those in the retail industry, which relies heavily on holiday sales. But smaller firms often have limited margins and are unable to absorb costs or secure exemptions from the tariffs.
Jared Hendricks, owner of Village Lighting Co, a holiday lights and decorations company in Utah, estimates his tariff costs are approaching $1 million so far this year. "At this point, we've kind of transitioned from working for profits to working for tariffs," he said. While some operators anticipate that the problem may ease next year if tariff relief is granted, Hendricks warned that without it, the impact will only worsen.
Game Kastle College Park in Maryland has also seen its costs soar due to the tariffs. "Most of my manufacturers and publishers don't really have the space to absorb or pass on price increases to their customers," said Boyd Stephenson, owner of the game store. The number of toy and game studios that he has seen close this year is "massive."
A survey of 1,048 small businesses found that 71% expect tariffs to have a negative impact on consumer spending this holiday season, and 44% expect a very negative impact. About 44% reported raising prices due to tariffs, and 74% are worried about their business surviving over the next 12 months.
Despite claims from the White House that tariffs will ultimately be paid by foreign exporters, many small businesses remain skeptical. "The administration has consistently maintained that the cost of tariffs will ultimately be paid by the foreign exporters," said a spokesperson. However, this claim is being met with skepticism from industry leaders who argue that American manufacturers are already struggling to compete due to supply chain disruptions and logistical issues.
As the holiday season approaches, many small businesses are holding their breath, hoping that strong sales will ease the impact of the tariffs. But for some, like Cartiglia, the fear of never being able to retire is all too real.
As the holiday season approaches, many small businesses in the US are bracing themselves for a potentially disastrous outcome due to tariffs imposed by the Trump administration. Industry leaders have warned that these tariffs have driven a "massive" number of small firms out of business and increased prices on popular goods.
For some, like Joann Cartiglia, owner of Queen's Treasures, a toy company in New York, the impact has been devastating. With her retirement savings invested in the business, she now fears she will never be able to retire. "I honestly feel the government is putting me out of business," Cartiglia said.
The tariffs have hit small businesses hard, particularly those in the retail industry, which relies heavily on holiday sales. But smaller firms often have limited margins and are unable to absorb costs or secure exemptions from the tariffs.
Jared Hendricks, owner of Village Lighting Co, a holiday lights and decorations company in Utah, estimates his tariff costs are approaching $1 million so far this year. "At this point, we've kind of transitioned from working for profits to working for tariffs," he said. While some operators anticipate that the problem may ease next year if tariff relief is granted, Hendricks warned that without it, the impact will only worsen.
Game Kastle College Park in Maryland has also seen its costs soar due to the tariffs. "Most of my manufacturers and publishers don't really have the space to absorb or pass on price increases to their customers," said Boyd Stephenson, owner of the game store. The number of toy and game studios that he has seen close this year is "massive."
A survey of 1,048 small businesses found that 71% expect tariffs to have a negative impact on consumer spending this holiday season, and 44% expect a very negative impact. About 44% reported raising prices due to tariffs, and 74% are worried about their business surviving over the next 12 months.
Despite claims from the White House that tariffs will ultimately be paid by foreign exporters, many small businesses remain skeptical. "The administration has consistently maintained that the cost of tariffs will ultimately be paid by the foreign exporters," said a spokesperson. However, this claim is being met with skepticism from industry leaders who argue that American manufacturers are already struggling to compete due to supply chain disruptions and logistical issues.
As the holiday season approaches, many small businesses are holding their breath, hoping that strong sales will ease the impact of the tariffs. But for some, like Cartiglia, the fear of never being able to retire is all too real.
Tariffs are a massive headache for small business owners right now. I mean, $1 million in tariff costs for one company alone? That's just ridiculous 
. It's like they're expecting everyone else to foot the bill while they just sit back and collect their "relief" checks 
. Meanwhile, these businesses are worried about making it through the holiday season without going under 
. The government needs to step up and help them out, not just claim that foreigners will pay for this 
. It's time to put people over profits 
Small business owners are really feeling the pinch with these tariffs! I mean, it's already hard enough trying to make ends meet during the holiday season, and then you gotta worry about losing your shirt due to some politician's policies 
The impact is huge, especially for those who rely on holiday sales. Hope some kind of relief comes soon so they can just focus on making toys for kids instead of stressing over tariffs 
their business is literally on the line cuz of trump's tariffs! Joann Cartiglia is literally crying about her retirement savings and jared hendricks has gotta pay 1 million bucks in tariff costs already this year?! 
that's crazy! what's next? more ppl losing their jobs and livelihoods over politics? 
i dont get why the admin thinks they can just pass it on to foreign exporters, like, how is that even possible?! 
supply chain disruptions and logistical issues already? 
we need some real solutions here not just more tariffs...
Tariffs are literally ruining lives here in the US 
but can't we find a better solution than just screwing over these tiny businesses? 
.
I'm talking massive companies to tiny startups, it's not just big guys who are getting hit... People like Joann Cartiglia are literally counting down till retirement but can't because of these tariffs 
It's all about who's going to absorb the cost of tariffs, American manufacturers or foreign exporters? Not sure but one thing's for sure - small businesses need help ASAP 
. If we're gonna keep being competitive in the global market, we need to rethink our approach here 
It's time for some real solutions, not just hot air from the White House 
.
! Tariffs are like, super bad for small businesses right now 
. Can't we just make things fair for everyone?! 
i feel for queen's treasures tho, joann cartiglia's retirement savings are on the line what if tariffs keep going up? how many more businesses gotta close down? 
I mean, Joann's toy company in NYC has been around forever and now she's worried about never retiring because of Trump's tariffs 
, they always said that tariffs are a major pain point for entrepreneurs. It's just so frustrating that politicians keep messing with things like this without thinking about how it affects everyday people 
. And now these businesses are having to worry about their future - it's just not fair 
.
. We need some real leadership here and a plan to help our small businesses thrive again 
.
it feels like the government doesnt care about anyone but themselves 
Nowadays, it seems like those safety nets are gone or at least not as strong. We need to be looking out for each other's businesses, especially during this critical time of year.