Tariffs function as taxes on imports and no matter what big or small they are, they always drive up costs for all businesses. For small and midsize businesses (SMBs) already stretched thin by labor shortages and inflation, every new regulation adds another layer to manage.

Hidden costs of tariffs 

At the surface, it may seem that the increase in import costs is the biggest hit to a business’s bottom line. But look closer, the true cost of tariffs goes much deeper, like:

• More paperwork and time – Tariffs come with rules that take time to track and follow, which can mean hiring extra help or pulling focus from other work.
• Supplier headaches – You might have to find new suppliers fast, which can cause delays and make things more expensive or complicated.

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SOURCE ECI Software Solutions