In a recent development, the upcoming 2028 Olympics is set to feature more female athletes than male ones, while a recent push for proxy voting was blocked by the House. Additionally, female entrepreneurs are urging former President Donald Trump to consider the implications of tariffs on small businesses in his tariff policies.
The markets experienced a recovery following President Donald Trump’s announcement of a 90-day suspension on retaliatory tariffs, although the substantial 125% tariffs on China persist. A collective of female founders is voicing concern about the potential fallout from the ongoing trade tensions with China, lobbying the White House to take into account the adverse effects tariffs could have on small businesses.
A group of 36 female founders, whose businesses generate a combined $800 million in revenue, has sent a letter addressed to Trump, Congress, and U.S. Trade Representative Jamieson Greer. The letter, requesting tariff exemptions and support for small businesses in the U.S., was led by Allison Luvera and Lauren De Niro Pipher, cofounders of the wine brand Juliet. Signatories also included notable figures such as Aishwarya Iyer of the olive oil producer Brightland, Hannah Cheng of Mimi Cheng’s, Cyndi Ramirez-Fulton from Chillhouse, and Rebecca Minkoff among others.
The correspondence highlights how these entrepreneurs perceive themselves as unintended casualties in the escalating global trade war. It cites examples such as Juliet facing a $200,000 annual cost increase due to the absence of domestic suppliers for a specific packaging component, and a home cleaning brand projecting an 80% rise in packaging costs.
The founders are advocating for three key measures: tariff exemptions for small businesses beneath a specified revenue or employee threshold, evaluations of tariff impacts on small businesses before implementation, and support for transitioning to domestic supply chains, possibly through tax incentives, grants, and technical assistance. Luvera noted the concerns regarding the viability of domestic solutions if tariffs are enforced, referring to previous instances where tariff exemptions were granted, albeit primarily in sectors like manufacturing and vaccines.
Luvera, who co-founded Juliet four years ago, had been strategizing for this endeavor as the potential for tariff imposition became more tangible. She described the sentiments among the founders as fraught with frustration, anger, and panic, emphasizing the criticality of utilizing the 90-day pause to deliberate on small business impacts. The pause is somewhat reassuring, but many founders remain anxious about tariffs concerning China, which remain unchanged. At Juliet, current tariffs could potentially inflate costs by 30% and significantly erode product margins.
Luvera expressed the profound impact even minor components or packaging parts can have on the financial stability of small businesses, underscoring the rationale behind the collective action among female business leaders.
Emma Hinchliffe contributed to this report, originally published on Fortune.com.
