Higher import costs and unpredictable trade policy are squeezing already thin margins for Black entrepreneurs.
Having a small business is never “easy,” but there have been some special challenges since last April, when President Trump initially invoked his tariffs that sent some businesses spiraling. Since then, things haven’t gotten easier.
Though the Supreme Court struck down his sweeping tariffs in February, ruling that he lacked authority, the president swiftly reinstated global 10% tariffs. The court checked his power, and in return, he found another way to impose his will. Tariffs have already been devastating for many, big and independent businesses alike. It’s caused costs to go up and, in turn, margins to suffer or prices to increase. The topsy turvy nature of trade policy today is especially challenging for small businesses because unpredictability has become the name of the game.
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