Small Businesses Bear Brunt of Trump's Tariffs

The Trump administration's latest tariff scheme has sparked outrage from small businesses, who are being disproportionately affected by the new import taxes. According to a report by Bloomberg Law, these companies are part of an increasingly vocal cohort of business owners who have emerged as the face of mom-and-pop tariff resistance.

While large corporations such as Walmart Inc. and Ford Motor Co. have remained relatively quiet on the issue, their silence is likely due to strategy rather than a lack of concern. Large firms don't want to incur President Donald Trump's wrath, which can cause a company's stock to crater with a single tweet.

The tariffs themselves are a major burden for small businesses, who have seen their bills increase by an average of $306,000 in the first year after the tariffs were implemented. Firms with fewer than 50 employees paid around $175,000 more. The Center for American Progress estimates that almost $284 billion was collected in gross import taxes between January 2025 and June 2026, with small businesses shouldering a significant portion of this burden.

The rules governing tariffs are complex and ever-changing, with the Harmonized Tariff Schedule adding over 800 pages since 2017. This has become a full-time job for many businesses, which smaller firms can't afford. The Federal Reserve's Small Business Credit Survey found that around half of small and mid-sized manufacturers reported no certainty about their input costs compared to 23% of their bigger competitors.