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Trump tells small business owners tariffs 'aren't high enough'

Trump backed higher tariffs as the administration processes about $166 billion in court-ordered refunds and prepares new duties under Section 301.

  • On Monday, President Donald Trump hosted a White House Small Business Summit during National Small Business Week, celebrating award winners and touting economic policies for the nation's 36 million small businesses.
  • The administration highlighted the One Big Beautiful Bill Act, which made the 20% small business deduction permanent, allowed 100% expensing for investments, and raised estate tax exemptions to $30 million for joint filers.
  • Trump told attendees, "the tariffs really aren't high enough in my opinion," while the summit honored Mark Lamoncha, owner of Humtown products, as National Business Person of the Year.
  • While promoting tariff benefits, the administration processes about $166 billion in court-ordered tariff refunds following a Supreme Court ruling that Trump exceeded his authority under the International Emergency Economic Powers Act.
  • Business sentiment remains divided: an April survey by the National Federation of Independent Business found 56% of respondents reported negative operational effects from tariffs, with hearings on proposed measures scheduled for May 5.
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+4 Reposted by 4 other sources
Center

Trump tells small business owners tariffs 'aren't high enough'

(The Center Square) – President Donald Trump told a group of small business owners Monday that tariffs should be higher, even as polling is mixed on the issue.

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Center

Trump hosts small business owners at White House, touting business-friendly policies

(The Center Square) – President Donald Trump enumerated a number of policies he said have created a favorable environment for small business growth while speaking to small business owners at the White House Monday.

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The White House broke the news in Washington, United States on Sunday, May 3, 2026.
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