Statement on President Trump’s Tariff Announcement

By SBE Council at 3 April, 2025, 1:17 pm

FOR IMMEDIATE RELEASE

Washington, D.C. - The following statement on President Trump's National Emergency declaration and the imposition of reciprocal tariffscan be attributed to Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan:

"Entrepreneurs and small business owner started the year with solid enthusiasm and confidence but now face mounting concerns about slowing sales, higher costs, and whether they will be hit by a punitive tax increase at the end of the year. That uncertainty is already having an effect on their plans for expanding, investing, and hiring.

"On the regulatory front, significant progress is being made to reduce the excesses associated with the Biden Administration such as nullifying or tailoring various burdensome rules across federal agencies and departments. Small business owners are also pleased by the commitment of President Trump and Republican leaders to extend or make permanent key tax measures in the 2017 Tax Cuts and Jobs Act. There can be no tax increases on our small businesses.

"President Trump and members of his Administration have acknowledged that tariffs are not free - that is, there will be some pain for consumers and small businesses alike. The new Administration inherited an economy with inflated cost pressures and other distortions, which means the pain associated with the tariffs will be more acute for many small business owners. That is why securing tax certainty and long-term tax relief as quickly as possible is so vitally important. A prolonged period of tariff-related cost pressure and uncertainty will disproportionately harm many small businesses, which is why Congress and the White House must accelerate efforts to reduce regulatory burdens and lock in long-term tax relief to promote business investment, growth, and certainty."

CONTACT:

KAREN KERRIGAN: kkerrigan@sbecouncil.org

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 30 years SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information X: @SBECouncil

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