Bloomberg Talks Rebecca Minkoff Co-Founder Rebecca Minkoff Talks Tariffs, Small Businesses
Apr 29, 2025
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Manufacturing Challenges in US
- The U.S. lacks handbag manufacturing infrastructure, including factories and leather processing.
- Rebuilding this would require grants and years of tariff relief to be viable for American production.
Tariff Impact on Small Businesses
- Small businesses suffer disproportionately from tariffs due to limited negotiating power.
- They often absorb costs rather than pass them on to customers to avoid hurting sales.
Tariffs Reduce Orders and Growth
- When tariffs were announced, buyers pulled back their orders sharply for Q4.
- This uncertainty harms business outlooks, hiring, and expansion plans.