In theory, imposing tariffs on foreign goods encourages U.S. consumers to purchase American-made products. But that’s not necessarily how it will play out for small businesses.
Most of us haven’t spent much time thinking about tariffs since learning about the Revolutionary War in grade school. Other than a hazy sense that they somehow lead to dumping tea into the Boston Harbor, these taxes probably seemed unrelated to modern life—until they became one of the current administration’s most beloved buzzwords.
