US economy news: Donald Trump tariffs 'really hurting' small businesses, Black-owned businesses in Chicago
Share this @internewscast.com

CHICAGO (WLS) — Fueled with a dream, Bill Cooper started Inline Designs back in 1997.

In the nearly 30 years since then, the furniture dealer, who sells to municipalities, hospitals, and school districts, has had to weather economic downturns, a recession and a changing industry.

ABC7 Chicago is now streaming 24/7. Click here to watch

Now, he says, he is bracing for the impact of the Trump administration’s most drastic economic policy changes ever: tariffs that could put his small business out of business.

“So, you know, I think maybe what the tariffs are supposed to do is to bring some more revenue. But that’s not necessarily what it’s doing. It’s really hurting a lot of people,” Cooper said.

The latest iteration of the policy basically imposes tariffs on virtually every country that U.S. trades with.

The Chicago business owner says he could be forced to raise his prices but adds that if his buyers will not pay the increase, he is not sure he can survive if he has to eat the extra cost.

“And nine times out of 10, they’re going to say, ‘You know what?’ Like, for example, with this one customer, this is just ‘take it off the quote for now.’ So that’s, you know, money out of my pocket, because they took it off the quote,” Cooper said.

A tariff is a tax imposed on imported goods. The cost is paid by the importer and often passed on to the consumer.

Some economists say tariffs will have a particularly negative effect on Black households and small businesses in communities of color.

According to the nonprofit Brookings Institution, in Chicago, Black-owned businesses account for 2.8% of the city’s total employer businesses. The number does not represent a share proportionate to the Black population.

Data from the 2020 census shows African Americans make up around 28% of Chicago’s population.

READ MORE | How Trump tariffs in 1st 100 days could contribute to ongoing price increases in housing, groceries

“I think the risk is real,” said Joseph School of Business Dean Pastor Raymond Thomas.

But Thomas’ message is, “do not fear.”

While teaching practical business solutions in a faith-based environment, the Christian business school has created its own partner network to try to help insulate small businesses in Black and Brown neighborhoods from the tariff shock and economic uncertainty.

“Because of our international presence, we now have an opportunity to create platforms, like a global partner network, where we can develop relationships in Nigeria, Tanzania, and South Africa, well, we could begin to look at other channels for suppliers and distribution,” Thomas said.

Despite best efforts to protect businesses from the economic uncertainty, Business owners like Cooper hate to think about what happens next if the tariff war goes on.

“I hadn’t thought that far ahead. But if it does, it could be very devastating to everybody,” Cooper said.

Copyright © 2025 WLS-TV. All Rights Reserved.

Share this @internewscast.com
You May Also Like
Third suspect in brutal Cincinnati beatdown arrested, charged with assault

Third individual apprehended and charged in violent Cincinnati attack

A third individual has been taken into custody over a violent incident…
A released Israeli hostage embraces her mother.

British Hostage Criticizes Keir’s ‘Moral Failure’ After PM Pledges to Recognize Palestine Following Survival from Hamas Tunnels

RELEASED British hostage Emily Damari today slammed “shameful” Sir Keir Starmer for…
Sister of murdered Bradford County father speaks on preventable tragedy

Sister Speaks Out on Avoidable Tragedy of Bradford County Father’s Death

Christopher Jones’ family urges awareness about domestic violence after his shooting by…
Emergency vehicles surrounding an airplane on an airport tarmac at night.

Delta Flight to Amsterdam Encounters Severe Turbulence; Emergency Landing Leaves 25 Injured

AT least 25 people were injured when a Delta Air Lines flight…
Chicago shooting: Man shot, critically injured while driving on North Kimball Avenue in Avondale, crashes into home, police say

Chicago Incident: Man in Critical Condition after Being Shot While Driving on North Kimball Avenue in Avondale, Leading to a Crash into a Home, According to Police

CHICAGO (WLS) — A man was shot and critically injured Wednesday while…
A young woman and man smiling for a selfie.

26-Year-Old Married Teacher Confesses to Sending Nude Photos and Pressuring 16-Year-Old Student for Sexual Relations

A MARRIED teacher has admitted bombarding her teen pupil with nudes and…
Former Fidelity employee in Jacksonville indicted in $2 million fraud scheme

Ex-Fidelity Worker in Jacksonville Charged with Participating in $2 Million Fraud Plan

The FBI in Jacksonville is now seeking additional victims who believe they…
Security camera footage of a hallway.

FBI Discovers ‘Missing Minute’ from Epstein’s Jail Footage as Conspiracy Theories Intensify

The elusive “missing minute” from the surveillance tape during Jeffrey Epstein’s time…
Chicago man Andrew Anania sentenced in kidnapping, sexually assaulting drivers at gunpoint; Walter Moran also convicted

Cary Attempted Kidnapping: Teens Encounter Man Near Fox River and North Harvest Glen Roads, Sheriff Reports Man Shot Himself

A man allegedly attempted to abduct two teenagers in the far northern…
Micah Parsons' contract negotiations with Cowboys 'getting personal'

Personal Tensions Arise in Micah Parsons’ Contract Talks with Cowboys

Micah Parsons is looking to be among the richest players in the…
FDA's top vaccine regulator departs amid conservative criticism

Top FDA Vaccine Official Resigns Following Conservative Critique

(The Hill) – Vinay Prasad, who served as the leading vaccine regulator…
Couple killed at Arkansas' Devil's Den State Park 'died heroes protecting their little girls,' family says

Arkansas Man Faces Capital Murder Charges for Killing Parents in Front of Daughters at Devil’s Den State Park

The Arkansas Department of Public Safety announced an arrest on Wednesday connected…