New York City, November 13, 2025
A recent survey by the Business Council of New York State shows that 88% of business owners have faced challenges due to tariffs, with 53% viewing these tariffs as a significant concern. The impacts are forcing businesses to reevaluate strategies, potentially leading to higher consumer prices and a decreased appetite for expansion. This sentiment is echoed nationally, revealing a widespread apprehension within the business community about future trade impacts. Many owners are adapting by considering price increases or seeking alternative suppliers to mitigate rising costs.
New York Business Owners Express Concerns Over Tariff Impacts
New York City, NY – A recent survey by the Business Council of New York State reveals that 88% of respondents have experienced some form of impact due to tariffs imposed earlier this year. Notably, 53% of these business owners continue to view tariffs as a significant concern for their operations.
Patrick Bailey, Director of Communications for the Business Council, highlighted the potential consequences for consumers: “Ultimately, I think it’s the consumer here who’s going to pay for it because when businesses get an increased cost a lot of times they can’t eat those costs, particularly if they’re larger impact.” He emphasized that both importing and exporting businesses could pass on these increased expenses to consumers.
The uncertainty surrounding tariffs, along with taxes and regulations, has led to nearly 73% of respondents indicating they have no plans to expand their businesses in the next one to two years. This sentiment underscores the broader apprehension within the business community regarding the stability of the current trade environment.
These findings align with broader national concerns. A survey by the Small Business Majority in August 2025 found that 81% of small business owners are worried about the future impact of tariffs, with over half (54%) expressing strong concern. Additionally, 60% reported experiencing higher costs for imported materials or goods due to recent tariff increases.
Similarly, a survey by Arthur J. Gallagher & Co. revealed that 90% of U.S. business owners are concerned about supply chain disruptions resulting from President Donald Trump’s tariffs. The trade war has already cost companies more than $34 billion in lost sales and higher costs.
In response to these challenges, many businesses are reevaluating their strategies. Some are considering increasing prices, delaying expansion plans, or seeking alternative suppliers to mitigate the effects of tariffs. The situation remains fluid, and business owners continue to monitor developments closely to navigate the evolving trade landscape.
Impact of Tariffs on New York Small Businesses
The survey conducted by the Business Council of New York State indicates that an overwhelming 88% of local business owners feel the pressures of tariffs. This challenge not only affects their immediate operational costs but resonates through various aspects of their business, leading to a cautious approach toward future investments and expansions.
Consumer Consequences
Patrick Bailey pointed out that the cost burden of tariffs will likely be shifted to consumers. As businesses face rising expenses, many may find it necessary to increase their prices. This potential price hike could have a cascading effect across the economy, impacting consumer spending and overall market sentiment.
Future Expansion and Business Plans
With 73% of businesses expressing no plans for expansion in the next one to two years, there appears to be a significant hesitance in the market. Entrepreneurs are pausing investment decisions in light of ongoing political and economic uncertainties, suggesting a cautious outlook among New York’s small businesses.
Broader National Context
The concerns echoed by New York business owners are mirrored nationwide. A significant 81% of small business owners across the country expressed fears about the long-term impacts of tariffs. With many reporting increased costs and disrupted supply chains, it becomes evident that these tariffs are reshaping the landscape of American entrepreneurship.
Strategies for Navigating Tariff Challenges
To combat the negative consequences of tariffs, many New York businesses are actively developing new strategies. Options such as increasing prices, delaying expansions, and seeking alternative suppliers reflect a proactive attitude toward mitigating risks. By adapting to these challenges, local entrepreneurs demonstrate resilience and a commitment to sustainability in the face of adversity.
Conclusion
As New York small business owners navigate the complexities of tariffs and their implications, a supportive community can play a crucial role in fostering resilience. By understanding and responding to these challenges, both businesses and consumers can work together to promote growth and economic stability. Supporting local initiatives and encouraging innovative practices will be vital for a thriving economic landscape in New York City.
Frequently Asked Questions (FAQ)
What percentage of New York business owners are concerned about tariffs?
According to a recent survey by the Business Council of New York State, 53% of respondents continue to view tariffs as a significant concern for their operations.
How have tariffs affected small businesses nationally?
A survey by the Small Business Majority in August 2025 found that 81% of small business owners are worried about the future impact of tariffs, with over half (54%) expressing strong concern. Additionally, 60% reported experiencing higher costs for imported materials or goods due to recent tariff increases.
What actions are businesses taking in response to tariffs?
In response to these challenges, many businesses are reevaluating their strategies. Some are considering increasing prices, delaying expansion plans, or seeking alternative suppliers to mitigate the effects of tariffs.
| Feature | Description |
|---|---|
| Survey Findings | 88% of New York business owners have experienced some impact due to tariffs; 53% view tariffs as a significant concern. |
| Consumer Impact | Increased business costs may lead to higher prices for consumers. |
| Expansion Plans | 73% of respondents have no plans to expand their businesses in the next one to two years. |
| National Concerns | 81% of small business owners nationally are worried about the future impact of tariffs. |
| Business Strategies | Businesses are considering increasing prices, delaying expansion, or seeking alternative suppliers. |
Now Happening on X
- @WETM18News (November 12, 2025): Tariffs and inflation are stressing New York’s families and businesses, while NYC’s securities industry sees surging profits. View on X
- @RutkowskiDr (November 11, 2025): Under the current administration, small businesses in New York have shuttered at alarming rates, with a 23 percent decline, exacerbating economic fragility. View on X
- @JoJoDancer4 (November 9, 2025): Many small businesses risk closing due to unaffordable high tariffs on top of product costs, raising long-term concerns with international allies over unfair trade practices. View on X
- @GregTodd_ (November 9, 2025): Current import taxes and new tariffs on car parts, metals, and more are squeezing businesses that produce goods for American consumers. View on X
- @SPECNews1BUF (November 7, 2025): Tariffs impose an effective 21% tax on imported goods, costing New York households an estimated $4,200 annually and potentially endangering 500,000 jobs in trade and manufacturing. View on X
- @SPECNews1ROC (November 7, 2025): Tariffs are effectively taxing imports at 21%, leading to $4,200 annual costs per New York household and threats to 500,000 jobs linked to trade and manufacturing. View on X
- @coolhand_luke88 (November 7, 2025): Tariffs act as a 21% tax on imports, putting 500,000 New York manufacturing jobs at risk according to a Hochul report. View on X
- @EscapedCommies (November 7, 2025): U.S. small businesses, especially importers of global products, are suffering from duties and tariffs that erode margins, compounded by rising transport costs. View on X
- @PinotandPizza (November 6, 2025): Tariffs disproportionately harm small businesses due to limited cash flow, weaker supplier bargaining power, and vulnerability to supply chain issues and price hikes. View on X
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