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
American veterans attacked, injured while distributing aid in Gaza with US-backed group

US-backed group distributing aid in Gaza reports assault and injuries to American veterans

Two American war veterans involved with the U.S.- and Israeli-supported Gaza Humanitarian…
Donald Trump speaking to reporters aboard Air Force One.

Trump Lashes Out: Putin Wants to Continue Killing in Ukraine, Claims He’s ‘Very Unhappy’ After Hour-Long Call with Vladimir

Donald Trump sounded a grim alarm over Putin’s intentions to “continue the…
Texas river flood leaves at least 13 dead and 20 children missing; camp evacuated by helicopter

Catastrophic Texas River Flood Claims 13 Lives, 20 Children Missing; Helicopter Rescue at Camp

The National Guard was called in on Friday in Texas following a…
Iran, following Trump strikes, says 'the doors of diplomacy will never slam shut'

Iran asserts that despite Trump’s strikes, ‘diplomatic channels will always remain open’

Iran’s foreign minister assures that “the doors of diplomacy remain open,” in…
Macy's Fourth of July fireworks light up NYC sky

Dazzling Fireworks Illuminate NYC Skyline for Macy’s July Fourth Celebration

The 49th annual Macy’s Fourth of July Fireworks show left New Yorkers…
Even before Glastonbury Festival hate chants, UK Jews warned of alarming rise in antisemitism

UK Jews Highlight Growing Antisemitism Before Glastonbury Festival Controversy

Jewish leaders in the UK were outraged this weekend following antisemitic chants…
Jason Kelce slammed for 'tone deaf' Fourth of July post about setting aside differences: 'Privilege is showing'

Jason Kelce Criticized for ‘Insensitive’ Independence Day Post on Setting Aside Differences: ‘Shows Privilege’

Jason Kelce encountered criticism on social media following his remarks urging people…
Can We Get Rid of the Disgraceful American Federation of Teachers Yet?

Randi Weingarten’s July 4th Tweet Drew Laughter – But Not in the Way She Intended

Many people were acknowledging Independence Day on Friday.  A post by Randi…
Passengers evacuating a Ryanair plane on the tarmac.

Ryanair Plane in Majorca Experiences Fire Alert; 18 Injured as Passengers Evacuate and Jump from Wing

EIGHTEEN people were injured after a fire alert onboard a Ryanair plane…
Woman recalls saving person's life from car fire on JTB

Heroic Woman Shares Story of Rescuing Someone from a Car Fire on JTB

JFRD called Ash Lawley a hero after she pulled a woman from…
Boss under fire after texts to pregnant employee revealed

Manager Faces Backlash After Texts to Pregnant Employee Exposed

An awkward text exchange between a pregnant employee and her boss over…
'The Office' actor Craig Robinson reveals he's quitting comedy to 'focus on my true calling'

‘The Office’ Star Craig Robinson Announces Shift Away from Comedy to Pursue ‘My True Passion’

Is this a joke? Comedian Craig Robinson, best known for his role…