Part 6/13:
He explains that companies, especially small businesses, are vulnerable to tariff costs on inputs, which can erode margins and force layoffs. For instance, some American importers and manufacturers—like fishing reel companies—face rising costs and cutbacks. Yet, he also highlights the adaptability of the U.S. economy, with firms quickly finding ways to circumvent tariffs and adjust supply chains, bolstered by a high degree of economic flexibility not present in many other countries.