Small business owners are reacting to the latest round of tariffs.
A new survey has found respondents were split. 53% identified tariffs as a threat to their local business, while 34% do not believe it’s relevant to their own operations. Brian Kelly, president and CEO of the Small Business Association of Michigan, says some owners see this as an opportunity.
“This isn’t surprising because if you think about a policy like that, if you’re a tool and die shop or otherwise in a supply chain and you lost business to a lower labor cost country over the last few years, you might be excited that there’s going to be new demand for locally sourced goods and services,” Kelly said.
That’s why 13% believe the federal trade policy changes could actually be positive.
