Small business owners noted how tariffs and rising fuel costs have impacted their bottom line.
By Nahlah Abdur-Rahman
Black Enterprise
https://www.blackenterprise.com/
Small businesses are bearing the brunt of Trump’s economic policies as they face higher costs to keep operations running.
The effects have even led Trump officials to recognize these increased expenses. Small Business Administration Administrator Kelly Loeffler agreed that tariffs and higher fuel costs prompted by the war with Iran have negatively impacted entrepreneurs but that they will positive results.
Loeffler appeared at an automation processes facility in Forsyth County, Georgia, to continue promoting the Trump’s legislation, particularly the “One Big Beautiful Bill” Act.
WSB-TV reports that Loeffler claimed the law helped the Georgia company hire more employees to support business growth. She said some “headwinds” did stunt this progress, but assured that these will give way to better economic conditions moving forward.
While she said certain policies will ultimately put more profits in the hands of business owners, others have admitted to struggles. Particularly, tariffs have become a significant expense to keep up with, even as Trump has cooled off on high markups.
“When I directly import some of our goods from China, India, there’s been a tax that’s increased, which is averaging probably around 20%, as high as, you know, last year, it was as high as 50% on some goods,” explained one Georgia business owner, Travis Reid.
Alongside these tariffs, fuel costs remain high as the Iran war continues amid fluctuating peace talks. According to AAA, gas is over $4 dollars a gallon on average. A year ago, it was priced about $1 lower.
The prices affect more than just the gas pump, hiking the overall cost of transported goods. Kiro 7 reports that fuel prices can impact every stage of the supply chain, with owners and retailers taking the initial financial hits before passing them on to consumers.
