Businesses May Experience 'Adjustment Period' Due to Import Tariffs
April 25, 2025 - 18:41
During a recent visit to New Jersey, Kelly Loeffler, the administrator of the Small Business Administration, expressed concerns that local businesses could face an "adjustment period" as a result of the import tariffs implemented during the Trump administration. Loeffler emphasized that these tariffs could lead to significant changes in the market dynamics for small businesses, particularly those reliant on imported goods.
She noted that while tariffs are intended to protect domestic industries, they can also create challenges for businesses that depend on foreign products for their operations. The impact of these tariffs may vary across different sectors, with some industries potentially facing increased costs and supply chain disruptions.
Loeffler urged small business owners to stay informed about the evolving trade landscape and to seek resources and support to navigate these changes. She highlighted the importance of adaptability in ensuring the resilience and sustainability of small businesses during this transitional period.
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