Business leaders warn of economic strain as more of Trump’s tariffs take effect

Business leaders from across the country are raising red flags over President Trump’s escalating tariff policies.

(NBC)- Business leaders from across the country are raising red flags over President Trump’s escalating tariff policies — warning that the costs are piling up and threatening the stability of American businesses, both large and small.

“Everything that is imported from another country, you know, adding anywhere from 10 to 20 percent on every one of our invoices,” said Belle Mendenhall of Bonnie Brae Flowers, highlighting how the new tariffs are squeezing small business owners.

Suzanne Clark, CEO of the U.S. Chamber of Commerce, echoed that concern in a formal letter to the White House, urging the administration to consider exclusions for small businesses. Without them, Clark warns, many may suffer “irreparable harm.” The impact is reaching far beyond flower shops and local retailers.

“Demand is way down,” said Bob Jordan, CEO of Southwest Airlines. “Now a lot of that is, I think, the consumer reaction to the tariffs.”

Despite growing unease from the business community and within his own party, President Trump remains optimistic. Speaking Thursday night to graduates at the University of Alabama, he defended his approach: “It’s making us very rich, and you’ll be seeing the results pretty soon — sooner than most people think,” Trump said.

Still, some Republicans are acknowledging the economic fallout. After data showed the economy contracted in the first quarter, stocks initially took a hit. “Some of this is clearly a reaction to the uncertainty on taxes and trade,” said Senator Thom Tillis (R-NC). “I mean, it’s indisputable. So, we got to work on it.”

President Trump, however, attributed the market’s dip to what he called the “Biden overhang” — a claim critics say distracts from the tariff-driven volatility. Wall Street has since rebounded, but concerns remain about long-term impacts.