Trade War Escalates as Mexico, Canada, and China Impose New Tariffs

As the owner of four women’s boutique shops in Detroit, Rachel Lutz has been closely following the news on tariffs. With around 15 employees, she knows the impact that these trade policies can have on her business.

Lutz is not alone in her concerns. Many small business owners like her are feeling the effects of the tariffs, which can lead to increased costs for goods and materials. These additional expenses can put a strain on already tight profit margins, making it challenging for small businesses to stay afloat.

It’s essential for business owners to stay informed and be proactive in managing the impact of tariffs. This can involve exploring alternative suppliers, renegotiating contracts, or adjusting prices to account for increased costs.

Despite the challenges presented by tariffs, Lutz remains optimistic about the future of her business. By staying informed and making strategic decisions, she is confident that she can navigate these uncertain times and continue to thrive.