How many headlines have contained those words in the last few years? Before President Trump began publicly discussing tariffs in late 2017, did you at all consider the impact of tariffs on your business?
Just two years later, hardly a day passes when tariffs don’t spark additional debate, or send the stock market swinging one direction or the other. Whether you agree with the Trump administration’s trade policies, it’s hard to avoid the topic of tariffs and their impact to businesses of all sizes.
Even if you avoid getting wrapped up in the tariff debate, there’s a good chance your business has been impacted. BizBuySell recently polled 1,600 small business owners and nearly half indicated they face higher costs due to tariffs. Of those impacted, 64% are planning on raising prices to offset tariff impact.
Tariffs are more than a political debate. They are real and continue to affect more and more US businesses.