Small and Medium-sized Businesses’ Expectations Concerning Tariffs, Costs, and Prices

Andrade, Philippe; Dietrich, Alexander; Leer, John; Schoenle, Raphael; Tang, Jenny; Zakrajšek, Egon

Report

Small and Medium-sized Businesses’ Expectations Concerning Tariffs, Costs, and Prices

Abstract: Small and medium-sized businesses (SMBs) constitute an integral part of the US economy, driving job creation and economic growth. They account for approximately half of private-sector employment and play a crucial role in fostering competition, all the while supporting local communities. This brief uses a new survey of SMB decision-makers to study how US tariff changes could affect businesses’ costs and prices.

JEL Classification: E31; F13; F14; F40; C83;