Reference News website reported on April 16 that the Munich Courier website published a report titled "Small Business Owners Sue Trump: 'Liberation Day' Has Become 'Doomsday' for Many" on April 15. The report stated that Matt Lawrence, CEO of a small company specializing in drinking vessels, had an unexpected reaction to President Trump's imposition of tariffs on so-called "Liberation Day," exclaiming, "Oh my God, this is worse than expected." Lawrence said that his company's glasses and porcelain cups are all manufactured in China. Lawrence said, "For small business owners, (the tariffs) are a doomsday scenario that will bankrupt most of us within months." There are numerous small and medium-sized enterprises in the United States facing similar situations as Lawrence's company. Now a group of small business owners have joined forces to sue the Trump administration. Five affected companies filed a lawsuit against Trump on April 14, arguing that there is no national emergency to justify these tariffs. Alexis Damato of the Small Business Majority organization said, "Many entrepreneurs rely on supply chains from China. Whether it is to maintain business operations or to stock warehouses." The organization claims to represent approximately 85,000 small business owners across various industries nationwide. The problem now facing small company CEOs is how they should respond. Beth Pratt, a baker and pastry chef from Denver, said, "I buy biscuit bags from a company in Shanghai, and I like them because of their quality." Moreover, they are much cheaper. These examples indicate that China is a major supplier of affordable consumer goods to the U.S. This applies to retail giants like Walmart and Amazon, as well as small stores selling toys, clothing, electronics, or home goods. If the trade war continues, the U.S. will inevitably face a large number of corporate bankruptcies. Germany's WirtschaftsWoche website published a report on April 13 titled "Small Stores, Big Concerns: Trump's Tariffs Hit American Retailers." The report stated that American small business owner Norrie Ricketts is struggling with the consequences of Trump's policies. In 2022, she and her business partner took over a small specialty pet supplies store in Old Town, Alexandria, Virginia. The former veterinary assistant said, "Sales have now fallen to the bottom." She said the reasons are multifaceted, but she is particularly concerned about Trump's tariff offensive targeting almost the entire world. Trump claimed that the trade conflict would bring the U.S. into a "Golden Age," but this conflict has hit small business owners like Ricketts particularly hard. She hasn't raised prices yet, but she can't maintain this state for long. Most of her products are not from the U.S.: dog food mainly comes from Canada, while toys, dog leashes, and other accessories made of fabric or plastic mostly come from China. In fact, these stores have long been integrated into global supply chains. However, unlike large corporations, they have little room to buffer price increases or change sources of supply. (Compiled by Nie Liting) Original article: https://www.toutiao.com/article/7493913175516004905/ Disclaimer: The article only represents the views of the author. Please express your attitude by voting up or down below.