Small business owners in the U.S. plead for prompt tariff relief from the Trump administration, labeling them as crushing
Gripped by skyrocketing costs and chaos-filled supply chains, small businesses are pleading for some relief from Trump's tariffs. They don't want to wait for trade talks to pan out -- they need immediate action!
At an event put together by the US Chamber of Commerce in the DC swamp, small business titans and industry experts begged for a swift response. As more and more US firms, big and small, get ready to take a hit from those damaging tariffs, the event couldn't have come at a better time.
The Chamber, representing nearly 3 million American companies of all sizes, sent a letter to Commerce Sec. Howard Lutnick, Treasury Sec. Scott Bessent, and US Trade Rep. Jamieson Greer. Here's what they asked for:
- Automatic exclusions for small importers who can't afford the tariffs' price tag or lack the flexibility to handle sudden supply chain changes.
- Exclusions for products that can't be made in the US or aren't readily available stateside.
- A process for companies to apply for relief if tariffs are a risk to jobs. After all, more than 40 million US jobs depend on trade!
Trump slapped a 145% tariff on Chinese imports, a 10% universal tariff on goods from other countries, and a 25% duty on certain imports from Canada and Mexico. But, except for China, he temporarily halted the tariffs' implementation for 90 days to allow trading partners a chance to negotiate.
Trump's team claims trade talks with China are happening, but Beijing denies that negotiations are taking place.
Update:As of early May 2025, the Chamber is still advocating for their relief requests, with no solid decisions made regarding automatic exclusions for small importers. The White House seems to be sticking to their guns on the tariffs, despite constant advocacy. In addition, there are ongoing lawsuits aimed at removing or temporarily blocking tariffs, which could impact future decisions.
- Small business owners, bearing the brunt of soaring costs and disrupted supply chains due to Trump's tariffs, are imploring for a swift resolution.
- At a US Chamber of Commerce event, small business leaders and industry experts cautioned about the impending impact of tariffs on American firms, large and small.
- The Chamber, representing almost 3 million American companies, has petitioned Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and US Trade Representative Jamieson Greer, seeking automatic exclusions for small importers, product exclusions, and a relief application process for companies at risk of job losses.
- Trump imposed a 145% tariff on Chinese imports, a 10% universal tariff on goods from other nations, and a 25% duty on certain imports from Canada and Mexico, but temporarily deferred implementation for 90 days to enable trading partners to negotiate.
- Despite ongoing trade talks with China being disputed by Beijing and constant advocacy by Trump's team, the White House stands firm on its tariff policy, while lawsuits to remove or temporarily halt tariffs continue, potentially influencing future decisions.
