https://www.bloomberg.com/opinion/articles/2025-07-10/fresh-tariff-games-are-leaving-small-businesses-dazed

Skip to content
Bloomberg the Company & Its ProductsThe Company & its Products
Bloomberg Terminal Demo RequestBloomberg Anywhere Remote Login
Bloomberg Anywhere LoginBloomberg Customer SupportCustomer Support

  * Bloomberg

    Connecting decision makers to a dynamic network of information,
    people and ideas, Bloomberg quickly and accurately delivers
    business and financial information, news and insight around the
    world

    For Customers

      + Bloomberg Anywhere Remote Login
      + Software Updates
      + Manage Products and Account Information

    Support

    Americas+1 212 318 2000

    EMEA+44 20 7330 7500

    Asia Pacific+65 6212 1000

  * Company

      + About
      + Careers
      + Inclusion at Bloomberg
      + Tech at Bloomberg
      + Philanthropy
      + Sustainability
      + Bloomberg Beta

    Communications

      + Press Announcements
      + Press Contacts

    Follow

      + Facebook
      + Instagram
      + LinkedIn
      + YouTube
  * Products

      + Bloomberg Terminal
      + Data
      + Trading
      + Risk
      + Compliance
      + Indices

    Industry Products

      + Bloomberg Law
      + Bloomberg Tax
      + Bloomberg Government
      + BloombergNEF
  * Media

      + Bloomberg Markets
      + Bloomberg Technology
      + Bloomberg Pursuits
      + Bloomberg Politics
      + Bloomberg Opinion
      + Bloomberg Businessweek
      + Bloomberg Live Conferences
      + Bloomberg Radio
      + Bloomberg Television
      + News Bureaus

    Media Services

      + Bloomberg Media Distribution
      + Advertising

  * Company

      + About
      + Careers
      + Inclusion at Bloomberg
      + Tech at Bloomberg
      + Philanthropy
      + Sustainability
      + Bloomberg Beta

    Communications

      + Press Announcements
      + Press Contacts

    Follow

      + Facebook
      + Instagram
      + LinkedIn
      + YouTube
  * Products

      + Bloomberg Terminal
      + Data
      + Trading
      + Risk
      + Compliance
      + Indices

    Industry Products

      + Bloomberg Law
      + Bloomberg Tax
      + Bloomberg Government
      + BloombergNEF
  * Media

      + Bloomberg Markets
      + Bloomberg
        Technology
      + Bloomberg Pursuits
      + Bloomberg Politics
      + Bloomberg Opinion
      + Bloomberg
        Businessweek
      + Bloomberg Live Conferences
      + Bloomberg Radio
      + Bloomberg Television
      + News Bureaus

    Media Services

      + Bloomberg Media Distribution
      + Advertising
  * Bloomberg

    Connecting decision makers to a dynamic network of information,
    people and ideas, Bloomberg quickly and accurately delivers
    business and financial information, news and insight around the
    world

    For Customers

      + Bloomberg Anywhere Remote Login
      + Software Updates
      + Manage Contracts and Orders

    Support

    Americas+1 212 318 2000

    EMEA+44 20 7330 7500

    Asia Pacific+65 6212 1000

 
Sign InSubscribe
Live TV

  * Markets
  * Economics
  * Industries
  * Tech
  * Politics
  * Businessweek
  * Opinion
  * More

US Edition
 
Subscribe
Opinion
Jonathan Levin, Columnist

Fresh Tariff Games Are Leaving Small Businesses Dazed

Companies that collectively employ about half of America's private
workforce may bear the brunt of the impact.

July 10, 2025 at 5:00 AM EDT
[160x160]
By Jonathan Levin
Jonathan Levin is a columnist focused on US markets and economics.
Previously, he worked as a Bloomberg journalist in the US, Brazil and
Mexico. He is a CFA charterholder.
Uncertain trade.

Uncertain trade.

Photographer: Frederic J. Brown/AFP via Getty Images

Gift this article
Contact us:
Provide news feedback or report an error
Site feedback:
Take our Survey
Save

President Donald Trump's latest extension of tariff negotiations once
again stretches out the policy limbo that US businesses are being
forced to endure. In a flurry of letters this week, Trump effectively
kicked the can on his much-hyped July 9 "reciprocal tariff" deadline
until Aug. 1. In other words, Trump wants nations to come forward
with concessions by that date. Meanwhile, American businesses and
consumers are already juggling current levies that are up some 11
percentage points to around 13% on average.

Who will pay the price for Trump's destructive policy and this 
persistent uncertainty? Odds are decent that the titans of the US
stock market will adapt, but the nation's small businesses could
suffer lasting damage.

 
HomeBTV+Market DataOpinionAudioOriginalsMagazineEvents
News
MarketsEconomicsTechnologyPoliticsGreenCryptoAI
Work & Life
WealthPursuitsBusinessweekCityLabSportsEqualityManagement & Work
Market Data
StocksCommoditiesRates & BondsCurrenciesFuturesSectorsEconomic
Calendar
Explore
NewslettersExplainersPointed News QuizThe Big TakeGraphicsSubmit a
TipAbout Us
Terms of ServiceDo Not Sell or Share My Personal Information
TrademarksPrivacy Policy
CareersMade in NYCAdvertise
Ad Choices
Help(c)2025 Bloomberg L.P. All Rights Reserved.