Small businesses are being crushed by Trump’s tariffs and economists say it’s a warning for the economy

Key Points

CNBC interviewed nearly a dozen small business owners to get a better understanding of how much tariffs are costing them and the impact the duties are having on their strategy and operations.

Many of the small businesses said they’ve been forced to freeze hiring, pull back growth plans, take on new financing or cut salaries to keep operations afloat.

“It’s to the point now where it could kill us, it could take us down, and I could lose everything. … Being a small business owner isn’t worth it when your country turns on you,” said Jared Hendricks, the CEO of Village Lighting, a small business selling Christmas products.