Small business owners across the United States are increasingly anxious about a potential recession, with 85% expressing concern over the impact of tariffs, according to a new national study by LegalShield [1][2][3]. This economic uncertainty comes as the Trump administration broadens its trade demands beyond traditional tariffs, targeting a wide range of perceived unfair practices [4][5][6][7][8].

The LegalShield study, which surveyed small business owners and managers, reveals mounting worry about trade policy changes. The company's internal data shows an uptick in small and medium-sized business (SMB) collections, billing disputes, and bankruptcy inquiries at levels not seen since 2020 [1][2][3].

Meanwhile, the Trump administration has given countries a 90-day window to address its expanded list of trade concerns before implementing new tariffs ranging from 10% to over 50% [4][5][6]. President Trump's definition of trade barriers now encompasses issues beyond traditional tariffs, including:

Agricultural safety requirements Tax systems Currency exchange rates Product standards Legal requirements Border-related bureaucracy

Trade officials from targeted countries have expressed confusion about the administration's specific demands in negotiations [6][7]. Many of these issues are complex and deeply ingrained in national policies, making it difficult or impossible for countries to make significant changes within the given timeframe [4][5][6].

The situation is further complicated by existing tariffs on China, which remain in effect [4][6]. Vice President JD Vance has announced that India has agreed to certain trade concessions, though details remain unclear [8].

As the global trade landscape continues to shift, small businesses in the United States find themselves caught between domestic economic pressures and the potential fallout from escalating international trade disputes. The coming months will be crucial in determining the impact of these policies on both the American and global economies.