New ad blitz shows how tariffs hurt small businesses

• The nonpartisan business group behind the campaign, Small Businesses Against Tariffs, says it's trying to clarify the record and spending six figures to do so.

Zoom in: The campaign is targeting Atlanta, Chicago, Detroit, Nashville and Newark because they are located in states hit hardest by tariffs.

• Georgia paid $7.1 billion in tariffs, according to economic research firm Trade Partnership Worldwide, based on trade from February to December 2025.
• The cities can expect to see posters and decals plastered around town through April.

The other side: Axios asked the White House for comment on the campaign and what message officials would like to send to small businesses about tariffs, but the press office did not respond.

State of play: Last month the Supreme Court struck down Trump's tariff agenda, declaring most of it illegal.

Yes, but: Companies and consumers have already paid hundreds of millions to cover the fees, and Trump has predicted refunds will be litigated in court for two years.

• In the meantime, Trump has launched temporary 10% global tariffs on all countries using an avenue not subject to the Supreme Court decision.

What we're watching: Earlier this month, a top trade court judge ordered the Trump administration to jumpstart the refunding process to U.S. companies.

• U.S. Customs says it's finalizing a four-step process to allow companies to apply.