NSBA PRESS | New Tariffs Could Have Negative Impact on Small Business
- celgin5
- 7 hours ago
- 2 min read
NSBA is advising the administration that expanding tariffs are increasing costs, fueling economic uncertainty, and disproportionately burdening small businesses, while urging policymakers to exempt small businesses from unilaterally imposed tariffs.
FOR IMMEDIATE RELEASE
July 29, 2026
CONTACT | Molly Brogan
202-552-2904 mbrogan@nsbaadvocate.org
WASHINGTON, D.C. | President Donald Trump late last week put into effect a new round of tariffs that are set to impact 99 percent of U.S. imports. Since last year, when President Trump began assessing tariffs on foreign goods and services, NSBA has warned of the potentially significant impact on small businesses, and showed stagnant small-business growth as a result of the economic insecurity created by the administration’s ever-changing tariff policy.
Below is a statement from NSBA President and CEO Todd McCracken.
“NSBA’s members are extremely diverse with varying opinions on the tariffs. While there’s a fairly equal split among small-business owners who say they’re impacted and those who are not, two-thirds say they have incurred increased costs in the past year, according to our 2026 Economic Report. Among those who have incurred increased costs, three-in-four say those increases are due to the new tariffs. The bigger issue for NSBA’s members—beyond those directly or even indirectly impacted—is the economic instability the tariffs and the lack of predictability these policies have created. Economic insecurity is the number one challenge small businesses are facing today, it impacts business sustainability and growth, the ability to access financing and a whole host of other factors that disproportionately harm small businesses. While NSBA certainly appreciates efforts to promote American-made products and services, around half of respondents to our aforementioned report say they believe U.S. trade and tariff policy is on the wrong track, while just 1/3 say it’s on the right track and one-in-five aren’t sure. Unlike large companies who have much greater access to the administration and therefore potential exemptions, small companies are out here on their own. One thing lawmakers could do to help is support efforts to exempt small businesses from unilaterally imposed tariffs."
Please follow NSBA at @NSBAadvocate for details and reach out to our media affairs department for additional information.
Celebrating nearly 90 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S. Please visit www.NSBAadvocate.org or follow us at @NSBAAdvocate.
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