Small business owners are reacting with cautious optimism to a recent Supreme Court ruling limiting presidential authority over tariffs, after many experienced profit declines due to previous tariff policies. While welcoming the decision, concerns remain about potential lingering uncertainty regarding refunds and other tariff authorities.
Impact on Small Businesses
Some small business owners, who saw their profits fall as a result of previous tariffs, are greeting the Supreme Court’s ruling with cautious optimism.
Jenelle Peterson, co-founder of Wild Life Outdoor Adventures, said her Canadian toy firm, which manufactures its toys in China before shipping them to the US for distribution, experienced a roughly 25% hit to its profits last year.
Peterson held prices steady for six months after a previous administration change. However, she said she couldn’t sustain that indefinitely. A knot-tying game now costs $19.99, up from $14.99.
“It’s hard to keep the lights on,” Peterson said.
She welcomed the court’s decision as a positive step.
“It sends a really good message that we can’t have these insane fluctuations in tariff rates and economic policy, because it’s so damaging to small businesses,” she said.
Future Plans and Lingering Concerns
Peterson is already making plans to import more products to the US as she processes the implications of the ruling. She hopes to eventually reinvest enough money to design new toys.
Despite the positive development, she expressed reservations and concerns about potential uncertainty regarding refunds and other tariff authorities that may still be leveraged.
“I have a bit of reservation in too much celebration,” Peterson said. “But for us, every percentage point matters.”
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