America’s small businesses are reeling from the weight of President Donald Trump’s tariffs.
Unlike many large retailers, which have the resources and scale to cushion the impact of higher costs, many small businesses facing higher tariffs are struggling to survive.
Eunice Byun, CEO of Material Kitchen, a small business that sells household kitchen products, said the complexity of the supply chain has increased tenfold.
“In terms of sales, we’re definitely ahead of the previous year,” Byun told CNBC.
Anjali Bhargava, owner of Anjali’s Cup, which sells concentrated chai and turmeric blends, said the current economic situation and tariffs are threatening her livelihood.
“It’s really frustrating because we don’t have the resources to stockpile,” Bhargava said.
According to the Small Business Administration, there are approximately 36 million small businesses in the United States, accounting for approximately 43% of the nation’s GDP.
So how are tariffs impacting small businesses, and how can big retailers avoid the impact? CNBC spoke to small business owners to find out.
