How the USA's Tariffs affect small business owners in Trinidad and Tobago

The USA's tariff wars can impact small business owners in Trinidad and Tobago in several ways:

1. Increased Import Costs: Many small businesses in Trinidad and Tobago rely on imported goods from the USA. Tariffs can raise the cost of these imports, resulting in higher expenses for businesses.

2. Higher Consumer Prices: As businesses confront increased import costs, they may pass these expenses onto consumers. This can lead to elevated prices for goods and services, potentially diminishing consumer spending.

3. Supply Chain Disruptions: Tariffs can disrupt supply chains, making it more difficult for businesses to obtain the necessary materials. This can cause delays and additional costs.

4. Reduced Competitiveness: Elevated costs and supply chain challenges can hinder small businesses in competing with larger companies that may possess more resources to absorb these impacts.

5. Economic Uncertainty: The overall economic uncertainty spurred by tariff wars can complicate small businesses' future planning, impacting investment and growth.

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Sources

(https://www.firstcitizensgroup.com/tt/news-insights/trumps-new-tariffs-the-true-economic-impact/) (https://newsday.co.tt/2025/02/06/trumps-tariff-war-how-it-impacts-local-import-costs/)

(https://newsday.co.tt/2025/03/13/tariff-world-war-us-policies-threaten-global-trade/)