Of the 242,515 total importers in the U.S., 97%—or 236,045—are small businesses, according to a Commerce Department report released this year.
Small businesses were responsible for a third of the total value of goods imported, highlighting the significant role they play in U.S. international trade.
Why it matters: For many of these companies, even a small increase in tariffs can have a profound effect on their bottom line.
These businesses typically operate with tight profit margins and limited financial flexibility.
Tariff increases can force them to either raise prices on consumers, absorb additional costs and reduce their profits, or cut back on inventory or operations.
Many small manufacturers rely on specific imported parts or materials to assemble their finished goods domestically. Tariffs can undermine their competitive advantage.
What they said: "I recently ordered a batch of linen from my supplier in Lithuania that I've been working with for years. On a $8,400 order, I was charged over $1,000 in tariffs,” said Elana Gabrielle, owner and designer of Elana Gabrielle in Portland, Oregon. “With already small margins, I don't know how I can continue offering my handmade goods at the quality and price I have been.”
What we’re doing: The U.S. Chamber is calling for immediate tariff relief for small businesses and exclusions for products that cannot be made in the U.S. or put American workers at risk of losing their jobs.
Dig deeper: Some states stand to be hit harder than others. We broke down small business imports by state and where they import from.
Bottom line: Tariffs result in higher costs, more uncertainty, and tougher times for America’s small businesses.
For more information visit the US Chamber of Commerce
