SBA assisting firms with loans during trade war: Kelly Loeffler
(NewsNation) — The head of the Small Business Administration on Wednesday pushed back at criticism of the Trump administration's tariff policies and said entrepreneurs support the president's goals of onshoring jobs and supply chains.
The start of President Trump's second term has been marked by steep tariffs on global trading partners, especially China, which have caused occasional turbulence in the financial markets.
SBA Administrator Kelly Loeffler said her agency's loan volume to small businesses was up 80% during Trump's first 100 days, compared to the same period under President Biden. She said the SBA is lobbying to increase loan limits for small manufacturers.
Trump says student loans moving to SBA, 'special needs' to HHS
'As I talk to manufacturers, they are spring-loaded to invest as soon as they can get more access to capital. Not just to invest in machines and expanding their facilities, but to hiring a skilled workforce and to training that workforce,' Loeffler said.
Trump talked Thursday by phone with Chinese President Xi Jinping and afterward said the conversation went well, paving the way for a new trade deal between the two countries.
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