Tariffs, or taxes imposed on imported goods, can have a significant impact on small to medium-sized businesses (SMBs) by raising production costs and disrupting supply chains.

There are two main types of tariffs: ad valorem and specific tariffs. Ad valorem tariffs are calculated as a percentage of the item's value (e.g., a 10% tax on the import price).

Tariffs can have significant implications. While they may benefit specific domestic industries, they can also increase costs for consumers and businesses relying on imported goods.