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Senators and SBA chief clash over tariffs and costs for small businesses
Summary
Committee ranking member and several senators said tariffs are raising costs and harming small businesses; Administrator Loeffler disputed that account and said the administration's trade actions will ultimately level the playing field and boost manufacturing.
Ranking Member Markey opened his remarks by sharply criticizing the administration’s tariff policies, saying small businesses face rising costs and falling confidence. “Small businesses are being forced to shut their doors because of president Trump's destructive tariffs,” Markey told the committee.
Administrator Loeffler disputed the premise that tariffs have raised costs for small businesses in the aggregate. When pressed by Markey, Loeffler responded, “No, ranking member Markey. They have not,” and pointed to SBA loan…
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