US small businesses sound alarm over Trump’s tariffs amid crucial holiday season

US small businesses are facing significant challenges due to Trump's tariffs, which have increased prices on holiday goods and driven many firms out of business. Despite strong holiday sales, many small business owners doubt that it will ease the impact of a tough year. Tariffs have hit small businesses especially hard, as they often have smaller margins and are less able to absorb costs. A survey found that 71% of small business owners expect tariffs to have a negative impact on consumer spending this holiday season, and 44% expect a very negative impact.