In late August and early September 2025, Freightos and Clearit surveyed nearly 400 North American importers – the majority of them small and medium-sized businesses (SMBs) – about how tariffs are reshaping their operations.
Judah Levine, Head of Research at Freightos, sat down with Adam Lewis, President of Clearit, to unpack the findings, and their conversation highlights how deeply tariffs are squeezing SMBs, what strategies are emerging, and what to expect heading into the holiday season.
Watch the video, or keep reading for their Q&A highlights.
What’s the current tariff landscape compared to earlier this year?
In May, tariff levels were highly uncertain: many goods carried a 10% baseline, China imports faced 30%, and goods from Mexico and Canada were subject to 25% duties. By late summer, new trade agreements with the UK, EU, Japan, Vietnam and others had created more stability, but most deals still resulted in tariffs of 15-20%. Adam noted that for SMB importers this means the “new normal” is higher duties that add significant cost pressure.
How are SMBs being affected compared to larger enterprises?
The survey showed that more than two-thirds of respondents had already been significantly impacted by tariffs, with 44% reporting cost spikes above 20%. Nearly half said they had reduced their shipping volumes, and 15% had even canceled orders. Adam emphasized that while large companies have the resources to negotiate better deals with suppliers, diversify sourcing, or frontload shipments ahead of tariff deadlines, SMBs usually lack the capital and flexibility to do the same. As a result, they are bearing the brunt of these changes.
What do tariff changes mean for holiday sales?
When asked about expectations for the holiday season, nearly 60% of SMB importers surveyed said they were more concerned now than earlier in the year about tariff impacts. More than half anticipated weaker back-to-school and holiday sales. Adam explained that this pressure comes not just from softer consumer demand, but also from SMBs’ inability to offer the kinds of deep discounts that large retailers use to draw shoppers. With margins already razor thin, many small businesses will struggle to stay competitive in peak sale months.
How have de minimis changes affected SMB importers and air cargo?
The U.S. decided to close the de minimis exemption, first to China in May, and then to all other countries at the end of August. Judah noted that this shift has caused steep declines in Asia-U.S. air cargo, particularly from China. Adam added that while large enterprises were able to frontload shipments or adjust sourcing, SMBs had far fewer options. Certain products like pharmaceuticals, electronics, and fast fashion still rely heavily on air freight, but most small importers are finding themselves sidelined by the higher costs and stricter rules.
Explore the full survey findings here: Freightos Trade War Survey Results
The Freight Data Trusted by Global Leaders – Now for SMBs
Market insights to negotiate smarter and ship smarter
