NEW YORK, August 11. /TASS/. Small companies in the United States will have to face significant financial expenses and red tape because of tariffs introduced by the administration of US President Donald Trump, Bloomberg news agency said, citing experts.
According to the publication, small US businesses providing in recent years for more than a half of jobs in the country are hardly coping with extra costs caused by the rise in prices for imported goods amid the increase of import tariffs. Small businesses, unlike major companies, do not have enough resources, including the office ones, for adaptation to changed conditions, experts say.
On August 1, the US leader signed the executive order on introducing tariffs ranging from 15% to 41% in respect of more than sixty countries and the European Union. Tariffs became effective on August 7.