1A
The Effect Of Tariffs On Small Businesses
Apr 17, 2025
Joining the discussion are Ernie Tedeschi, Director of Economics at the Yale Budget Lab and former White House Chief Economist, and Carl Shevik, CEO of mattress companies Earthfoam and Sleep on Latex. They delve into how tariffs, especially on imports from China, create market instability for small businesses. Personal stories reveal the challenges faced by entrepreneurs, particularly those relying on imported goods. The conversation also uncovers the uncertainties of navigating global supply chains and the impact on consumer costs.
36:17
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Tariffs imposed by the Trump administration have caused significant cost increases for small businesses reliant on imported goods, threatening their viability.
- The unpredictability of tariff policies complicates planning for small business owners, forcing them to choose between absorbing costs or risking customer loss.
Deep dives
Impact of Tariffs on Small Businesses
Tariffs, particularly those imposed by the Trump administration, have significantly affected small businesses reliant on imported goods. Many small business owners have reported steep increases in costs due to tariffs that are being passed on to consumers, leading to concerns about the viability of their business models. For instance, Lila Lawless of Terrapin Fiberworks detailed how tariffs on yarn sourced from various countries could lead to price increases that threaten her small hand-dyed yarn shop. Other businesses, like mattress companies sourcing materials from countries like Sri Lanka, are also facing uncertainty as rising costs and fluctuating tariff rates disrupt their supply chains.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
