Alina Selyuk

You know, they feel like collateral damage. The evening when the tariffs were announced, I was actually at a big reception organized by the National Retail Federation. They had scheduled a fly-in for small business owners. And when the magnitude of tariffs became clear, it was like shell shock because it's these companies that are on the hook to pay many of these fees.

You know, they feel like collateral damage. The evening when the tariffs were announced, I was actually at a big reception organized by the National Retail Federation. They had scheduled a fly-in for small business owners. And when the magnitude of tariffs became clear, it was like shell shock because it's these companies that are on the hook to pay many of these fees.

You know, they feel like collateral damage. The evening when the tariffs were announced, I was actually at a big reception organized by the National Retail Federation. They had scheduled a fly-in for small business owners. And when the magnitude of tariffs became clear, it was like shell shock because it's these companies that are on the hook to pay many of these fees.

For example, Sarah Wells from Virginia shared her story. She sells purses and clothes for new moms. They're like for breast pumps and breastfeeding. They're made in China. And late last year, she made a huge shipment order. It was loading at the port when the White House raised tariffs on China by 10 percent in February.

For example, Sarah Wells from Virginia shared her story. She sells purses and clothes for new moms. They're like for breast pumps and breastfeeding. They're made in China. And late last year, she made a huge shipment order. It was loading at the port when the White House raised tariffs on China by 10 percent in February.

For example, Sarah Wells from Virginia shared her story. She sells purses and clothes for new moms. They're like for breast pumps and breastfeeding. They're made in China. And late last year, she made a huge shipment order. It was loading at the port when the White House raised tariffs on China by 10 percent in February.

By the time it docked stateside, that tariff was raised again another 10 percent.

By the time it docked stateside, that tariff was raised again another 10 percent.

By the time it docked stateside, that tariff was raised again another 10 percent.

And now that the total tariff on Chinese imports is up to 54%, you know, Wells is reeling.

And now that the total tariff on Chinese imports is up to 54%, you know, Wells is reeling.

And now that the total tariff on Chinese imports is up to 54%, you know, Wells is reeling.

You know, one common answer is retrenching and scaling back. Maybe your store shrinks the selection so there's less stuff to ship. Maybe you stop hiring, stop advertising or developing new products, essentially stop growing and go into survival mode. One retailer talked about saving a lot of money in his bank account.

You know, one common answer is retrenching and scaling back. Maybe your store shrinks the selection so there's less stuff to ship. Maybe you stop hiring, stop advertising or developing new products, essentially stop growing and go into survival mode. One retailer talked about saving a lot of money in his bank account.

You know, one common answer is retrenching and scaling back. Maybe your store shrinks the selection so there's less stuff to ship. Maybe you stop hiring, stop advertising or developing new products, essentially stop growing and go into survival mode. One retailer talked about saving a lot of money in his bank account.

It's money that he could be spending on all kinds of things to expand, hire, market. But now he wants that money to just kind of sit on the sidelines because he expects to pay big tariffs. And then the other answer is what Scott talked about. It's raising prices. Giant companies like Walmart are pressuring suppliers overseas to bear some of those tariff costs.

It's money that he could be spending on all kinds of things to expand, hire, market. But now he wants that money to just kind of sit on the sidelines because he expects to pay big tariffs. And then the other answer is what Scott talked about. It's raising prices. Giant companies like Walmart are pressuring suppliers overseas to bear some of those tariff costs.

It's money that he could be spending on all kinds of things to expand, hire, market. But now he wants that money to just kind of sit on the sidelines because he expects to pay big tariffs. And then the other answer is what Scott talked about. It's raising prices. Giant companies like Walmart are pressuring suppliers overseas to bear some of those tariff costs.

Well, small retailers, they don't have that kind of muscle. And if they pass the cost to consumers with higher prices, you know, how high can they really go before they start losing sales? Sarah Wells had a grim take.

Well, small retailers, they don't have that kind of muscle. And if they pass the cost to consumers with higher prices, you know, how high can they really go before they start losing sales? Sarah Wells had a grim take.