Black-owned businesses eye second Trump administration with uncertainty

Black-owned businesses across the country are expressing mixed feelings as they await the start of a second Donald Trump administration. Some worry that the tariffs that Trump has promised to impose will increase their costs. Trump, whose inauguration is Jan. 20, has proposed adding a tax of 10 percent to 20 percent on all imports.  They also worry about the fact that they will be doing business under a chief executive whose policies and words have reflected anti-Black sentiment. They are concerned about the trend toward retreating from diversity, equity, and inclusion. Still, others are hopeful that Trump pro-business policies will help level the playing field for Black-owned businesses. Many of them are looking forward to Trump’s promises to bring down high energy costs, establish fair trade, increase jobs, and lower inflation. Iguehi James, an Oakland, California, fashion entrepreneur, cuts fabric to make a face mask she sells through her apparel company Love Iguehi on Sept. 15, 2020. Photo credit: Terry Chea, The Associated Press Current numbers show Black business owners can’t afford any setbacks. According to an annual survey by the Census Bureau and the National Science Foundation, there were 161,031 U.S. firms with majority Black ownership in 2021...