"Nearly a quarter of Brooklyn's small businesses may close under Trump's tariff policies, with 86% reporting negative impacts on operations and 23% at significant risk."
"More than 90% of Brooklyn businesses forecast decreasing profit margins, and 85% expect sales drops, forcing them to raise prices as they combat tariff impacts."
A recent survey by the Brooklyn Chamber of Commerce revealed that nearly 25% of small businesses in Brooklyn are at risk of closure due to President Trump's tariff policies. An alarming 86% of business owners indicated that these tariffs will negatively affect their operations. Most businesses import a significant portion of their goods from China, and over 90% expect their profit margins to shrink. As a reponse, many plan to raise prices to mitigate losses. The uncertain business climate has led to cautious hiring and halted expansions, threatening the growth of this vibrant sector.
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