In October, small- and mid-sized businesses actually shrank their headcounts, according to payroll processor ADP. That downsizing, said one business owner in Virginia, was due to the “devastating” tariffs.
“In the last six months, the tariff rate on products like we make in Cambodia coming into the U.S. has gone from 0% to 49% to 10% to 36% to 19%,” said Ben Knepler of True Places.
When Riley Brown and Kassidy Curtis-Lugo moved to an island in Lake Superior, they built a sauna to stary warm through the winters. Now they rent and build custom saunas.
Aaron Steele and his family began raising goats in 2012 when his three sons needed summer chores. Now, those goats aren’t just another chore — in fact, they’re the world’s best employees.