SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
big banks
Trump's Tariffs Are Squeezing Small Businesses
The rising costs that small business owners are paying for imports due to President Donald Trump’s trade tariffs, a tax on American consumers and businesses, is roiling mom-and-pop shops across the US.
Nov 29, 2025
According to the Pew Research Center, Americans have big trust in small businesses versus big corporations.
Mom-and-pop shops will need that positive vibe and more as they approach the make-or-break year end business season, beginning with Small Business Saturday on November 29. While small business owners can’t compete on prices with larger companies, there are other factors in play such as personal service. Nevertheless, prices of goods and services do matter, so the rising costs that small business owners are paying for imports due to President Donald Trump’s trade tariffs, a tax on American consumers and businesses, is roiling mom-and-pop shops across the US.
On April 2, 2025, Trump announced that he was via tariffs “enacting fair trade policies that will restore our workforce, rebuild our economy, and finally put America First.” According to Small Business Administration Administrator Kelly Loeffler, mom-and-pop shops would reap a bounty of benefits from tariffs on imports from global trading partners: “Small businesses will no longer be crushed by foreign governments and unfair trade deals. Instead, we will put American industry, workers, and strength FIRST.”
How are these claims working out on Main Street? We turn to Fabrice Moschetti, owner of Moschetti Artisan Roasters, in Vallejo, California. Imported coffee he buys from Brazil was tariff-free until the president imposed a baseline “reciprocal tariff” of 10% on imported goods globally, then increased tariffs on Brazilian imports another 40% in July because the government of Brazil was prosecuting its past President Jair Bolsonaro, awaiting a 27-year prison sentence on appeal currently after conviction for planning a military coup against his successor, Brazilian President Luiz Inácio Lula da Silva.
"At this point, we've transitioned from working for profits to working for tariffs. We are just in business to pay off our tariff debt."
It’s been a struggle to find an adequate supply of coffee, according to Moschetti, forcing him to truck it in from cities such as Seattle versus the nearby Port of Oakland. "It's been difficult to tell the mom-and-pop owner-operators who we work with that our prices are increasing 40%," he says.
While Trump recently rolled back the 40% tariffs on coffee imports from Brazil, tariffs on imports from other global trading partners remain in place. Two examples of tariff-price hikes on imports are bags and cups made abroad in China.
Dan Anthony is the executive director of We Pay the Tariffs (WPT), a Washington, DC-based coalition of small businesses. Its aim is to advocate for policies that address the negative impacts of tariffs.
Strength in numbers is a political strategy that confronts the money-power of big banks, corporations, and the wealthy. It’s a strategy that faces enormous obstacles, economically and politically.
Meanwhile, presidential tariffs totaled $120 billion paid on US imports from March to August 2025, according to Anthony. That $120 billion compares with the spending on the National School Lunch Program and related programs for 12 months.
Joann Cartiglia is the owner-operator of The Queen's Treasures in Ticonderoga, New York. Her doll accessories and toy company is struggling with tariff-driven inventory shortages as the make-or-break holiday season approaches, according to Cartiglia. American companies paid $1.2 billion in tariffs on toy imports for the year ending in August 2025, a spike of 22.3% from 0% the past year, according to WPT, based on Census data. Meanwhile, toy imports grew 0.1% between August 2024 and August 2025.
Jared Hendricks is the owner of Village Lighting Co. in West Valley City, Utah. "We're approaching a $1 million in tariffs this year that weren't in the budget,” he says, “weren't in the forecast, and frankly, weren't in the cash flow, so we had to finance that. At this point, we've transitioned from working for profits to working for tariffs. We are just in business to pay off our tariff debt."
Currently, import prices are rising and small businesses are struggling. Anne Zimmerman is founder and owner of Zimmerman & Co. CPAs Inc. in Cleveland and Cincinnati, Ohio, and cochair of Small Business for America’s Future. The group’s new survey of 1,048 small business owners shows that 74% of them do not think that they will remain open in 2026.
“Congress needs to focus on policies that will actually help us,” Zimmerman says in a statement. “That means extending the Affordable Care Act tax credits so businesses and their employees aren’t hit with massive healthcare cost spikes. The Supreme Court needs to strike down these tariff policies that are crushing small businesses.”
Keep ReadingShow Less
'We Can't Allow This to Happen': Musk Touts Postal Service, Amtrak Privatization
"This is their end goal: the privatization of as much of the U.S. government as possible, enriching the rich and leaving everyone else worse off," warned one progressive.
Mar 06, 2025
Elon Musk sparked calls Thursday to fight what one union called an "illegal power grab" after the senior adviser to President Donald Trump and de facto head of the Department of Government Efficiency said that the United States Postal Service and Amtrak, the national passenger rail service, should be privatized.
"I think logically we should privatize anything that can reasonably be privatized," Musk—who is advising Trump on how to eviscerate federal agencies—said while appearing remotely at the Morgan Stanley Technology, Media, and Telecom Conference. "I think we should privatize the post office and Amtrak for example... We should privatize everything we possibly can."
"Basically, something's got to have some chance of going bankrupt, or there's not a good feedback loop for improvement," he opined.
The U.S. Postal Service (USPS) employs more than 600,000 people. Amtrak has more than 21,000 workers.
"Big banks are already drawing up plans for a fire sale of the most profitable parts of our postal network."
Musk called the state of Amtrak "kind of embarrassing" and contrasted the U.S. rail system with the networks of countries including China, where the central government has financed the construction of nearly 30,000 miles (48,200 km) of high-speed lines. The United States has less than 300 miles of high-speed rail.
"Amtrak is a sad situation," Musk asserted. "It's like, if you're coming from another country, please don't use our national rail. It can leave you with a very bad impression of America."
Responding to Musk's remarks, Progressive Mass political director Jonathan Cohn said on social media, "This is their end goal: the privatization of as much of the U.S. government as possible, enriching the rich and leaving everyone else worse off."
Like Musk, Trump has also expressed support for privatizing the USPS, a move recommended by his Office of Management and Budget during his first term. The president also sought to slash Amtrak's funding during his first administration.
Last month, reporting that Trump is seeking to place the USPS under the control of the Commerce Department—which is led by billionaire cryptocurrency banker Howard Lutnick—sparked outrage and allegations of illegality.
"White House sources recently briefed the media that they were planning an illegal power grab of our public Postal Service," the American Postal Workers Union (APWU) said in an email this week responding to ongoing attacks on the USPS. "Such a power grab could allow them to put into action our greatest fear. Stripping our services and selling off our USPS."
"Big banks are already drawing up plans for a fire sale of the most profitable parts of our postal network, raising shipping costs for the public, and leaving taxpayers on the hook to fund the rest," APWU added. "We can't allow this to happen!"
Last month, longtime Postmaster General Louis DeJoy signaled he would step down by asking the United States Postal Service Board of Governors to begin selecting his successor. DeJoy's tenure has been marred by allegations of criminal election obstruction, conflicts of interest, and other corruption. His Delivering for America, a 10-year austerity plan, has been condemned by some critics as a roadmap to privatization.
It's not just the USPS and Amtrak. Key members of the Trump administration and their oligarch allies are pursuing policies and actions opponents argue are ultimately aimed at privatizing a sweeping range of federal agencies and services, from
public education to veterans' healthcare to mortgage lending, Social Security, Medicare, and more.
Keep ReadingShow Less
Harris Needs to Show She Will Fight Like Hell for the Working Class—There's Still Time
And the best way to do that is to... fight like hell for the working class.
Oct 18, 2024
Kamala Harris must win the former Blue Wall states of Michigan, Pennsylvania, and Wisconsin, which are now up for grabs. And winning those battleground states requires reaching working-class voters who have been economically harmed and left behind by Wall Street’s insatiable greed.
The Harris campaign has not been courting these voters the way you would expect from the party of working people. Instead, she has managed both to kiss up to Wall Street and to allow Trump to appear as the savior of working-class jobs. Those advising her on this strategy are either politically tone deaf or worse, blinded by potential Wall Street employment opportunities after the election.
The Vice-President’s first big gaffe was going to Wall Street for a highly publicized fundraising event saying she “would encourage innovative technologies like AI.” Doesn’t her team understand that Artificial Intelligence is not a term of endearment to working people who fear automation will kill their jobs?
The Harris campaign has not been courting these voters the way you would expect from the party of working people. Instead, she has managed both to kiss up to Wall Street and to allow Trump to appear as the savior of working-class jobs.
Meanwhile, the New York Times reports that behind the scenes her advisors have been moderating her proposals to please Wall Street. (“How Wall St. Is Subtly Shaping the Harris Economic Agenda”.) How is this the party of working people?
Fantasy Finance
The Harris team is suffering from several debilitating illusions. They seem to believe that if Wall Street approves of her economic agenda, it will close the economic-approval ratings gap with Trump. That certainly isn’t the case in the more industrialized states where most working people see Wall Street as the destroyer of jobs.
There also is no lost love there for the big banks that are too big to fail and get bailed out whenever they rape and pillage the economy into disaster. If you ask the average worker in the Midwest to pick the one word that they associate with Wall Street, nearly all will say “greed.”
The Harris team clearly believes that we live in a win-win economy—that when Wall Street does well, we all do well. They seem oblivious to the ways in which Wall Street’s leveraged buyouts and stock buybacks have robbed millions of working people of their livelihoods.
These workers are not stupid. When a private equity company buys up the facility where they work, they know layoffs are coming to service the new debt load. When a company pours corporate funds into buying back their own stock to artificially boost the stock price, they know that layoffs will be used to pay for shoveling all this money to the richest stock owners and executives. (Please see Wall Street’s War on Workers for all the gory details.)
Blowing Off the John Deere Workers
The Harris team, however, has the perfect chance to show that they understand how important it is for the government to save jobs from rapacious corporations. The opportunity came when John Deere announced that it would send 1,000 jobs to Mexico, crying competitive pressure while in 2023 earning $10 billion in profits, paying its CEO $26.7 million, and conducting $12.2 billion in stock buybacks.
Donald Trump saw a big opening and called for a 200 percent tariff on Deere’s imports if it shipped those jobs to Mexico. That threat, idle or not, certainly caught the attention of the workers who were about to see their jobs evaporate. And it certainly resonated with economically precarious workers all through the industrial heartland who could care less about whether tariffs are good or bad macroeconomic policy.
What did the Harris team do? Exactly the wrong thing. It wheeled out Mark Cuban, the celebrity billionaire owner of the Dallas Mavericks, to attack the tariff as “insanity…ridiculously bad and destructive,” on macroeconomic grounds Not a word said by Cuban or the Harris campaign about those 1,000 jobs that are about to be destroyed. That shows “ridiculously bad and destructive” political campaigning.
I’m starting to wonder about the smarts of the Harris advisors. They seem willfully oblivious to the fact that Trump’s 2017 intervention to save jobs at the Carrier air conditioning company in Indiana was wildly popular among voters of all political persuasions. Guess what? Having the government step in to save your job is what people want the government to do. Why can’t Harris say she will do the same?
I’ve been begging, pleading, jumping up and down to get the Harris campaign to say she will stop corporations from taking our tax dollars, pouring it into stock buybacks, and then laying off millions of workers each year. The proposal is really simple. Add this one sentence to every federal contract:
“No taxpayer money in the form of federal grants, contracts, and purchases, shall go to corporations that layoff taxpayers and conduct stock buybacks.”
But my message is not penetrating the dense Democratic Party ecosystem distorted by Wall Street’s cash and future lucrative job opportunities.
The Harris campaign clearly believes they are doing more than enough to attract working people in the key battleground states, and that it is wiser to placate rather than offend Wall Street.
I sure hope they are right and, come election night, that my analysis is dead wrong.
Keep ReadingShow Less
Most Popular