Politics & Power: Rising tariffs, gas prices squeeze small business margins across the South
By Bruce Hamilton
Published on April 28, 2026.
Small business owners across the South are feeling financial strain due to rising tariffs and rising fuel prices. Some officials within the Trump administration have acknowledged the strain, but remain optimistic about the economy's progress. Small Business Administration Administrator Kelly Loeffler acknowledged hiring gains tied to the "One Big Beautiful Bill" Act, but also acknowledged the economic challenges. The national gas average has risen above $4 per gallon, contributing to transportation and supply-chain costs. Higher fuel costs also exacerbate the tariff burden. Florida's unemployment rate rose to 4.5% in January, making it the first time in years that the state has exceeded the national average for years. Experts warn that without targeted relief, small businesses could face layoffs, price hikes or closure.
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