For the past few months, small business owners have been told that high tariffs on competitor nations such as China would be a death sentence for the American economy. With the latest 4% jump in GDP growth, many small business owners can’t help but question the sentiment. In a recent study from UBS, 71% of business owners say they approve of the China tariffs, but also would like to see additional tariffs added.
According to Fox Business, “some businesses are actually seeing some benefits from the higher tariffs and are more concerned about the ongoing impact of tax reform and regulatory relief.” It’s hard to believe that more small business owners see a business benefit with tariffs than lower taxes, but in the world of Trump, nothing goes exactly the way experts predict.
Despite the initial bump in American good pricing, the long term impact has yet to be discerned. Whether a significant trade war hits the world remains to be seen, but in the early term, American small businesses are seeing a positive.