Even Small Businesses Are Hurting From the Latest Trade Disputes
Higher prices, longer delivery times are causing concern for business owners
Manufacturing companies, including small businesses, say they're paying higher prices for raw materials and seeing longer wait times for deliveries of goods that must go through customs because of new U.S. tariffs on imports from big trading partners.
That comes in a report last week from the Institute for Supply Management, showing that manufacturing remained strong in July, but the industry group's members are feeling the effects of the trade disputes.
"Respondents are again overwhelmingly concerned about how tariff-related activity, including reciprocal tariffs, will continue to affect their business," ISM executive Timothy Fiore said in a statement.
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