Most Main St. businesses in America will remain largely unaffected by Trump’s trade war with China. According to Gene Marks, opinion writer for The Hill and past writer on economic and financial issues for The Washington Post, The New York Times and The Guardian, the trade war could even be good for small businesses.
A recent survey of 1,500 small business owners conducted by Bank of America this past month had 59% say they “don’t see any impact.”
This data was reinforced by another polling of 1,700 small business owners from brokerage site BizBuySell, which similarly found 57% of small business owners said they would be affected by tariffs on China.
Numbers like these are in direct disagreement with countless other media outlets which proclaim that Trump’s trade war will wreak havoc on Main St.:
It "hits the little guy," stated the New York Times.
It's "bad news for small businesses" Barron's cautioned.
It's a "big problem for small business,” said CBS News.
However, this notion makes sense. Most of the small business in America deal with other Americans. They are restaurants, plumbers, accountants, dentist offices; they do not typically deal directly with China.
The trade war could even benefit small businesses. As Marks writes, small businesses can expect more opportunities to make things for the domestic market, more access to China’s consumers, and less illegal dumping of Chinese products.