Small Businesses Face Uncertainty Amid Tariff Pause Economist Hopes for Fairer Global Trade System

Small business owners will likely face months of uncertainty over tariffs– that’s according to the chief economist at NBT Bank. But Ken Entenmann also says the current pause in the trade war with China could be a first step at leveling the international playing field around trade. “There is no doubt that the uncertainty of shipping, shipping costs, and what the ultimate tariff is going to be, is going to be a problem for small businesses in the near future. My hope is that the end result is one where we have a freer and fairer global trade system which would benefit everybody,” Entenmann said. He says that while most economists agree, there is a worldwide trade imbalance working against the U.S. He adds that economists also largely agree that imposing high tariffs is not the best way to go about fixing it.