Trump's Tariffs Have Been Particularly Costly for Small Businesses

Small businesses have been hit hard by Trump's tariffs, according to the Federal Reserve, which found that these firms struggled to dodge the costs and are now feeling more pessimistic about their employment and revenue prospects for 2026. This situation underscores the broader economic impact of protectionist policies on the smallest enterprises, which often lack the resources to navigate such financial challenges. The long-term implications could include reduced innovation, job losses, and a weakened small business sector, which are crucial for economic dynamism and job creation.