Story perspectives

Small Businesses Struggle as Tariffs Spark Economic Fears

5/10/2025

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Summary

Story summary

Small business owners nationwide are increasingly worried about tariffs, facing rising costs and potential layoffs.
In North Carolina, Joshua Esnard of Cut Buddy incurred $4,600 in tariffs on a $3,000 order, jeopardizing his business.
A CNBC survey shows only 30% of small business owners have a positive economic outlook, with 70% fearing recession.
Tariffs are affecting various sectors, causing price increases and reduced inventory for toys, beauty supplies, and specialty foods.
Community leaders are calling on the government to lift tariffs to protect small businesses and the economy.

History

Historical Context

Rising tariffs echo the 1930 Smoot-Hawley Act, which stifled trade during the Great Depression. Small businesses today face similar pressures, with 70% fearing recession. Historical patterns show that protectionist policies often harm domestic economies, prompting calls for government intervention to safeguard local enterprises.

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Story summary

Small business owners nationwide are increasingly worried about tariffs, facing rising costs and potential layoffs.
In North Carolina, Joshua Esnard of Cut Buddy incurred $4,600 in tariffs on a $3,000 order, jeopardizing his business.
A CNBC survey shows only 30% of small business owners have a positive economic outlook, with 70% fearing recession.
Tariffs are affecting various sectors, causing price increases and reduced inventory for toys, beauty supplies, and specialty foods.
Community leaders are calling on the government to lift tariffs to protect small businesses and the economy.

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