Ranking Member Edward J. Markey (D-Mass.), of the U.S. Senate Committee on Small Business and Entrepreneurship, released a report titled “The Trump Tariffs: A Small Business Crisis,” sharply criticizing the economic fallout of President Trump’s sweeping tariff increases.
The report details how the tariffs—announced April 2, 2025, in what the report calls the most extensive trade restrictions since the Smoot-Hawley Tariff Act of 1930—are threatening the survival of American small businesses.
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