Small businesses, which make up 98% of retailers and support more than 13 million American jobs, are particularly vulnerable. Owning a small business embodies the ideals of freedom and opportunity that are central to the American Dream. However, tariffs jeopardize the very foundation of these ideals.
Tariffs are taxes on U.S. importers, not foreign nations. U.S. job creators — including retailers, restaurants, manufacturers and other Main Street businesses — bear the burden of tariffs.
Higher prices for consumers. Small businesses cannot absorb these increased costs and are often forced to pass tariff increases on to their customers, resulting in higher prices.
Declining consumer confidence. Tariff uncertainty is causing consumer confidence to decline, meaning shoppers may cut back on spending at local retail establishments.
Inability to source domestically. Many small retailers strive to source from American manufacturers, but not all products are available domestically.
Possible closures. Small businesses often lack the margins to absorb increased costs from tariffs, which could lead to store closures.
Are you a small retailer eager to share your tariff impact story? Sign up to be a media spokesperson.
U.S. job creators — including retailers, restaurants, manufacturers and other Main Street businesses — bear the burden of tariffs. Small retailers share how these added costs are affecting them and their customers.
NRF’s video series, Tariffs Hurt Small Businesses, highlights the impact of tariff-focused trade policies on small retailers. This series amplifies their voices through the stories and insights of four small business owners from across the United States:
Dewar Gaines, Gaines Family Farms – Huntsville, AL
Ben Knepler, True Places – Wallingford, PA
Ross Harrow, The Flour Shop – Culver City, CA
Jared Hendricks, Village Lighting Company – West Valley, UT
Do you have a story on how tariffs are impacting your small business? Record a Tariff Impact Story.
August 12, 2025
"No choice but to raise prices" tariffs squeeze businesses as White House hails inflation data , Hearst Television
'Stop production': Small US firms battered by shifting tariffs , AFP
Inc. 5000 CEOs Say Tariffs Are Threatening Their Profits , Inc.
Ongoing tariff uncertainty keeps businesses in a tough spot, Marketplace
August 8, 2025
Are prices rising because of tariffs? Here’s what we know, NPR
Trump's mass tariffs now in effect, what they mean, Good Morning America
Trump Tariffs Disrupt Mother-Daughter Hair Business, CNN | The Lead with Jake Tapper
August 4, 2025
‘Everything is about to get expensive’: Small businesses may raise prices to cover tariffs, CNBC
Tariff-hit brands cut back on customer service reps and turn to AI chatbots to cut costs, Modern Retail
August 3, 2025
August 1, 2025
