Tariffs Are Draining Millions From Small and Mid-Sized Importers — And Stalling Growth

Tariffs don’t just show up as line items on a spreadsheet. For many small and mid-sized businesses, they reshape entire business models — forcing layoffs, halted growth plans, and lost market share.

A Maryland-based accessories company shared the staggering impact they’re facing:

“These tariffs have added enormous amounts of expense to our operating costs, caused complete chaos in our supply chain, and ultimately have caused us to increase our pricing which threatens our market share and growth. Hiring, comp increases, and CAPEX projects have been put on hold to offset this added, unforeseen, uncontrollable cost.”

The numbers speak for themselves:

• In 2025 alone, new tariffs added an additional $1.5 million on top of the longstanding Section 301 tariffs imposed in 2019.

• For 2026, they are already tracking $1.1 million in tariff costs in just the first quarter.

No small or mid-sized business can absorb millions of dollars in unpredictable costs without consequences. This is the story of countless American businesses right now. These tariffs aren’t helping U.S. manufacturing, they’re punishing companies that design products here, employ U.S. workers, and contribute to local economies — all because their supply chains run through countries where domestic alternatives simply don’t exist.

Tariffs were supposed to strengthen American industries. Instead, they’re putting successful businesses at risk and forcing them to cut back on the very things that drive economic growth.

If your business is facing similar challenges, we want to hear from you. Every story helps shine a light on what these policies mean for real employers, real workers, and real communities.

📣 Share your experience and sign onto our open letter to Congress. Your story matters — and it can help drive meaningful change.