OnPoint
WACH-TV
January 5, 2025
OnPoint on WACH Fox: Impact of possible Trump tariffs on SC small businesses
by Brian Mcconchie
COLUMBIA, S.C. (WACH) – This week on OnPoint on WACH Fox we look at how tariffs that are expected during the Trump administration will affect small businesses.
On the campaign trail, president-elect Donald Trump made imposing tariffs on foreign goods a cornerstone of his economic plan. Already, the prospect of tariffs in the new Trump administration is dividing businesses around the country.
Some are scrambling to avoid the potential import taxes or preparing to pass the cost on to their customers while others are welcoming tariffs as a defense against foreign competition.
To help us understand the real impact of the potential tariffs on small businesses in South Carlina and across the country, we’ve invited the president of the SC Small Business Chamber of Commerce to break down the potential plan.
Small businesses are a major part of the economic landscape in South Carolina with more than 430,000 small businesses in the state.