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Small‑business witnesses tell Congress tariffs are raising costs and sowing planning uncertainty
Summary
At a joint small-business hearing, lawmakers and witnesses warned that sweeping tariffs announced by the administration act like a tax on consumers, raise supplier prices and make inventory and hiring planning difficult for firms with thin margins and little negotiating power.
Members of the House and Senate small-business committees and witnesses at a joint hearing spent considerable time debating the economic effects of recent tariff announcements, with several lawmakers and witnesses saying the tariffs act as a tax on families and small firms.
Ranking Member Markey warned that “these reckless tariffs and the impending retaliation will ruin many small businesses,” and said estimates show American households could pay “an additional $3,400 in costs.” He said small…
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