Over two-thirds of small businesses say that Trump admin’s reckless tariff-taxes will hurt their business, according to WSJ poll
WASHINGTON – U.S. Senator John Hickenlooper joined 81 Senate colleagues in introducing a bipartisan resolution declaring the week of May 5th as “National Small Business Week.” The measure recognizes the entrepreneurs and innovators who promote growth and create jobs across America.
“This week is National Small Business Week. Our week to celebrate the small businesses that power our economy and create jobs across Colorado,” said Hickenlooper. “The problem is, most small businesses aren’t in the mood to celebrate. The Trump admin’s tariff-taxes have created chaos and uncertainty for our small businesses.”
Hickenlooper is a former small business owner and a member of the Senate Committee on Small Business and Entrepreneurship. Colorado is home to over 715,000 small businesses that employ over 1.1 million Coloradans.
Hickenlooper has been outspoken about the effects of the Trump administration’s tariffs on small businesses.
“Their reckless tariff-taxes – and their chaotic rollout – are creating so much uncertainty that they’ve literally paralyzed businesses,” Hickenlooper said in a video posted to his social media accounts. “It’s next to impossible to plan anything when their on-again, off-again tariffs make it impossible for small businesses to know whether they’ll be able to afford what they need to stay alive and grow… The bottom line: we should be supporting our small businesses, not crushing them.”
Hickenlooper also called on Small Business Administrator Kelly Loeffler to address the impacts of the Trump administration’s tariffs on small businesses and sent a letter to the Trump administration demanding answers on the national security and economic impacts of their tariffs on Canadian goods.
In a Giddy Up-Date newsletter posted to his Substack, Hickenlooper details how the Trump admin’s trade wars have “frozen businesses in their tracks.”
“Trump promised to lower prices on his first day in office. Instead, his administration announced major tariffs across the board and picked trade wars with our most valuable trading partners, like Mexico and Canada. We’re already seeing Mexico, Canada, and the other countries retaliate, targeting American businesses and producers with their own tariffs,” wrote Hickenlooper. “It’s especially harmful for the smallest businesses – the newest entrepreneurs – who are the most vulnerable… I know so many small businesses in Colorado and across the country are still reeling trying to figure out how to move forward in these unpredictable times.”
Two Hickenlooper bills that make it easier for small businesses to access and offer retirement plans for their employees have been signed into law. Hickenlooper’s very first bills introduced as Senator focused on small business. His initial package of bills would help more women and underrepresented communities receive investment capital and give Native American small businesses a voice at the highest levels of the Small Business Administration (SBA). Last Congress, Hickenlooper introduced the Supporting Community Lenders Act and Investing in All of America Act, both of which focus on increasing access to affordable capital for small businesses. He intends to reintroduce both bills this Congress.
###