Small Businesses Sound Alarm Over Trump's Tariffs Ahead of Crunchy Holiday Season
As holiday shoppers gear up to splurge on gifts and festive treats, many small business owners are bracing themselves for a bleak winter. The impact of President Donald Trump's tariffs has been devastating, with prices skyrocketing and sales dwindling.
For many entrepreneurs, the holiday season is their only lifeline. But this year, the threat of rising costs, supply chain disruptions, and logistical nightmares looms large. Toys, decorations, and other festive goodies are among the hardest-hit sectors, as smaller businesses struggle to absorb the tariffs' impact.
"I've invested a fortune in my business," said Joann Cartiglia, owner of Queen's Treasures, a toy company in New York. "Now I have zero hope of retirement." Her sentiments echo those of Jared Hendricks, who runs Village Lighting Co, specializing in holiday lights and decorations. With tariff costs exceeding $1 million this year, his business is now "working for tariffs" rather than profits.
Industry leaders warn that the problem is far from over. Next year's tariffs will be even worse if relief isn't granted, according to Hendricks. American manufacturers are ill-equipped to take on the task of producing Christmas goods, and the complex supply chain would require billions of dollars in decades to build up.
Boyd Stephenson, owner of Game Kastle College Park, agrees that his firm's costs have soared due to tariffs. Manufacturers and publishers can't absorb price increases or pass them on to customers, leaving many struggling to stay afloat.
A recent survey of 1,048 small businesses found that 71% expect tariffs to harm consumer spending this holiday season, with 44% expecting a very negative impact. Fourteen percent have raised prices due to tariffs, and 74% are worried about their business surviving in the next year.
The White House maintains that tariff costs will be passed on to foreign exporters who rely on access to the US market. However, for small businesses, the reality is stark โ and dire. With no clear end in sight to the trade tensions, America's smallest enterprises are fighting for survival.
As holiday shoppers gear up to splurge on gifts and festive treats, many small business owners are bracing themselves for a bleak winter. The impact of President Donald Trump's tariffs has been devastating, with prices skyrocketing and sales dwindling.
For many entrepreneurs, the holiday season is their only lifeline. But this year, the threat of rising costs, supply chain disruptions, and logistical nightmares looms large. Toys, decorations, and other festive goodies are among the hardest-hit sectors, as smaller businesses struggle to absorb the tariffs' impact.
"I've invested a fortune in my business," said Joann Cartiglia, owner of Queen's Treasures, a toy company in New York. "Now I have zero hope of retirement." Her sentiments echo those of Jared Hendricks, who runs Village Lighting Co, specializing in holiday lights and decorations. With tariff costs exceeding $1 million this year, his business is now "working for tariffs" rather than profits.
Industry leaders warn that the problem is far from over. Next year's tariffs will be even worse if relief isn't granted, according to Hendricks. American manufacturers are ill-equipped to take on the task of producing Christmas goods, and the complex supply chain would require billions of dollars in decades to build up.
Boyd Stephenson, owner of Game Kastle College Park, agrees that his firm's costs have soared due to tariffs. Manufacturers and publishers can't absorb price increases or pass them on to customers, leaving many struggling to stay afloat.
A recent survey of 1,048 small businesses found that 71% expect tariffs to harm consumer spending this holiday season, with 44% expecting a very negative impact. Fourteen percent have raised prices due to tariffs, and 74% are worried about their business surviving in the next year.
The White House maintains that tariff costs will be passed on to foreign exporters who rely on access to the US market. However, for small businesses, the reality is stark โ and dire. With no clear end in sight to the trade tensions, America's smallest enterprises are fighting for survival.