President Trump’s tariffs on foreign imports will hit small businesses hard. As the U.S. economy hangs in the balance of the tariff war, where America’s trade policies will land is still unknown. This has thrown many small businesses, which typically operate on lower margins, into a state of panic.
Experts tell Fortune that vulnerable businesses, especially small ones, should batten down the hatches in five ways. Mom-and-pop shops should strategize with their suppliers, load up on the essentials, cut costs where possible, build consumer trust, and band together with other small companies.
