Trump’s tariffs impact on small business is more immediate and practical than most headlines suggest.
Host Tom Wheelwright sits down with economist Dr. Adam Ozimek to analyze what tariffs actually do inside the U.S. economy. Rather than focusing only on international politics, this discussion breaks down how tariffs affect entrepreneurs, supply chains, hiring, and pricing decisions across industries.
In this episode you will learn:
- Why tariffs behave like a tax on domestic businesses
- How supply chains adjust and why shortages occur
- The short-term vs. long-term economic effects
- What business owners should expect in pricing pressure
- Where the broader U.S. economy may be heading
Ozimek explains that many small businesses operate on thin margins and depend on predictable sourcing. When tariffs raise import costs, owners face difficult choices: increase prices, find new suppliers, or reduce growth plans. Wheelwright connects these policy shifts to practical strategy, showing how entrepreneurs can prepare their purchasing, contracts, and cash flow management.
This episode helps business owners move from reacting to economic policy to planning for it.
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00:00 – Intro. 01:18 – Are tariffs inflation or a tax? 05:28 – Is the push toward manufacturing in the U.S. a positive or negative? 10:31 – Lowering tax rates for manufacturers. 15:56 – Can we make more advanced manufacturing for a more stable country? 17:34 – Where are we truly with China? 20:55 – Will higher tariffs cause industrialization? 27:55 – Bilateral Trade Deficits: Good, Bad, or Situation Dependent? 33:37 – 6 Month Forecast 36:57 – Closing Statements
Looking for more on Dr. Adam Ozimek?
Website: eig.org
LinkedIn: http://www.linkedin.com/company/economic-innovation-group/
Facebook: http://www.facebook.com/EconomicInnovationGroup
Twitter: twitter.com/InnovateEconomy
Instagram: http://www.instagram.com/innovate_economy/
Youtube: http://www.youtube.com/channel/UCQ5D-zz5PetC4TFDOQtlArQ
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