Story perspectives

Small Businesses Add 1.2M Jobs Amid Rising Tariff Costs

3/28/2026

Summary

Story summary

Small businesses employed nearly half of U.S. workers and added 1.2 million jobs in 2025.
They face challenges from tariffs imposed by the Trump administration.
Small-business importers report average monthly tariff costs around $37,000, prompting price increases.
A March 2026 survey shows over half of small businesses report rising input costs.
Kentucky, Michigan, and Tennessee are especially affected, with importers paying over $650,000 more in tariffs than last year.

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Story summary

Small businesses employed nearly half of U.S. workers and added 1.2 million jobs in 2025.
They face challenges from tariffs imposed by the Trump administration.
Small-business importers report average monthly tariff costs around $37,000, prompting price increases.
A March 2026 survey shows over half of small businesses report rising input costs.
Kentucky, Michigan, and Tennessee are especially affected, with importers paying over $650,000 more in tariffs than last year.