Small businesses across America are feeling the squeeze—and Mark Cuban is making sure it doesn't go unnoticed.
In an April 11 post on BlueSky, the billionaire sharply criticized President Donald Trump's administration, saying, "Not a single word to help the 33 million small businesses in this country."
As new tariffs on Chinese imports surge to historic levels, small business owners are scrambling to survive a one-two punch of skyrocketing costs and a financing crunch.
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Tariffs Slam Small Businesses Across America
Since early April, Trump's administration has imposed sweeping new tariffs, including a 145% levy on Chinese goods and a blanket 10% on other imports, citing national security and economic competitiveness.
However, these measures have brought severe fallout for small businesses reliant on Chinese suppliers. In an episode of the “Prof G Markets” podcast, Flexport CEO Ryan Petersen warned that as many as 80% of small businesses importing from China could face bankruptcy if the tariffs remain in place.
Port traffic is also taking a hit. The Port of Los Angeles expects container arrivals to drop by nearly a third year-over-year.
Gary Cohn, a former director of the National Economic Council during Trump’s first term and now IBM's vice chair, told CBS that the effects of the tariffs would begin to manifest in the U.S. economy by late May, due to the typical eight-week supply chain cycle.
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Credit Crunch Compounds The Crisis
The timing couldn't be worse for small businesses already battling limited access to financing. According to NerdWallet, interest rates for business loans remain stubbornly high—ranging from 6.54% to 11.7% at traditional banks—with online loan rates reaching up to a jaw-dropping 99% APR.
Cuban emphasized that many businesses lacked the cash flow to stockpile inventory before tariffs took effect, leaving them no choice but to absorb higher costs on their next orders. His concerns were echoed in an April article from Bar Chart, highlighting how businesses are now trapped between soaring expenses and shrinking margins.
Silence From Washington Raises Tensions
The political side of Cuban's message is ringing louder by the day. His critical response targets the lack of action from federal officials. So far, there have been no announcements about relief programs, trade credits, or assistance packages for the 33 million small businesses impacted.
Sen. Ed Markey (D-MA) has also called attention to the crisis, demanding complete tariff exemptions for all small businesses, calling current measures an "existential threat" to American entrepreneurship.
While major corporations often secure carve-outs or subsidies during trade negotiations, small businesses remain vulnerable, facing mounting pressures without a safety net.
Ripple Effects Could Shake the U.S. Economy
The domino effect from this crisis could reshape the broader economy. According to the Small Business Administration, small businesses account for almost half of America's private workforce and the majority of total U.S. businesses. Their contraction threatens to reduce consumer spending, increase layoffs, and diminish tax revenues nationwide.
Yale’s Budget Lab found that the 2025 tariffs are driving a 2.3% increase in short-term prices, costing the average U.S. household an estimated $3,800 annually. For low-income households, the hit could reach $1,700.
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