Small business owners favor more China tariffs: Survey

By China TariffsFOXBusiness

Majority of US business owners want more tariffs: Report

UBS Wealth Management CIO Mike Ryan on a new study on U.S. business owners' views about the economy and tariffs.

Business owners are cheering President Trump’s tough talk on trade and tariffs.

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A recent study from UBS showed 71% of business owners approve additional tariffs on China. In fact, some businesses are actually seeing some benefits from the higher tariffs and are more concerned about the ongoing impact of tax reform and regulatory relief.

“[Higher tariffs have] given a little more pricing power – and pricing power has been difficult to come by – that’s providing relief for some of these companies,” UBS CIO Mike Ryan told FOX Business on “Mornings with Maria.”

And the optimism didn’t stop there.

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The study – comprised of small business owners – revealed that business expansion was also top of mind.

“Only a very few are seeing a negative impact that’s going to in any way either influence their hiring plans or their expansion plans,” Ryan added.

However, concerns over the long-term impact of a trade war and potential retaliatory measures resulting in higher input prices are still being considered.

“Right now what we are seeing is the initial impact,” Ryan said, “but then we know there’s always second-order effects.”

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