Small businesses could be crushed by the increased invoices of President Trump, according to an open letter from 38 female founders of consumer products.
While Trump stopped his invoice increases for 90 days for various countries – the interest rate set at 10% for now – China was increased to 145%including the previous 20%levy.
In the letter, published Thursday, these founders urged Trump and Congress to leave the invoice are increasing, at least until small businesses can find accessible alternative supply chains. Without it, they want exceptions for small businesses.
The letter was written by Allison Luvera, founder of Juliet Wine, a launch that sells luxury wine directly to consumers. Luvera tells TechCrunch that she is facing a $ 200,000 surprise per year because she buys a basic packaging element from abroad and has no alternative to the US.
The letter substantiates some other such problems, such as a home cleaning brand that must supply its repository bags from abroad due to lack of immediate US choices. Invoices threaten to increase the cost of this package by 80%.
The 38 team says that their businesses make $ 800 million a year, employ thousands and supplies of origin from both domestic and international manufacturers. They point out that invoices land more in small businesses.
“Unlike large companies, small businesses do not have the leverage to renegotiate the supply chain contracts, the margins to absorb sharp increases in costs or the capital required for the rapid restructuring of global supply chains.”
This group wants other small business owners – and anyone else is worried about the financial impact – to help them put pressure on Congress. They are calling for a small business evaluation – so the government is aware of the impact. Ideally, they would like to get rid of small businesses from such prices. Otherwise, they exert pressure on “grants, tax incentives or technical assistance” by helping us small businesses to solve the pain of the supply chain caused by Trump’s commercial policies.
The signatures are designer Rebecca Minkoff and Alison Wyatt of the female founder collective. Others include: Emily Doyle and Mei Kwok of Dune Suncare and Yanghee Paik of Rael.
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