A staggering 97% of U.S. importers are small businesses, so when tariffs rise these companies face steep costs that threaten their survival. A report released this year by the Department of Commerce highlights the significant role that small businesses play in U.S. international trade, particularly in imports. While the report underscores the significant role small businesses play in the U.S. import landscape, it also brings attention to the growing challenges these businesses face, particularly when it comes to tariffs. Tariffs have a direct impact on the cost of goods coming into the U.S., and for small businesses, these added expenses can create substantial hurdles.
