Overview

• 72% of U.S. small and mid-sized businesses say Trump’s import tariffs have raised their operating costs and 77% expect further increases by year’s end.
• Over 90% of those companies still anticipate international growth over the next two years as 44% consider reshoring production and 64% invest in digital technologies.
• The administration’s April measures include a universal 10% tariff on all imports plus higher duties on steel, aluminum, cars and Chinese goods that were later cut to 30%.
• Commerce Secretary Howard Lutnick insists consumer prices will remain stable under the tariff regime and expects to finalize multiple trade agreements by mid-summer.
• Retailers such as Walmart and Macy’s plan to raise prices by early summer to offset higher import costs and economists warn that households could incur about $2,800 in extra annual expenses.