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The perils of political spite…
Another small business owner who thought Donald Trump was his golden ticket to economic prosperity is now watching his livelihood go up in flames.
Austin Petersen, a former Libertarian-turned-Republican-turned-Trump-fanboy, recently took to Twitter to lament the death of his shoe business. And who’s to blame? Not the tariffs he supported, of course. Not the president he’s still pledging allegiance to. No, in true cowardly fashion, Petersen has directed his frustration at the government as some nebulous entity while conveniently sidestepping his own role in voting for the guy who made all of this happen.
Petersen, who famously declared he’d vote for Trump again “to own the libs,” is now grappling with the reality that Trump’s trade policies are less about protecting American workers and more about gutting small businesses like his. The tariffs, which have raised the weighted average tariff rate to its highest level since 1943, have effectively wiped out the de minimis exemption—a policy that once allowed small businesses to import goods under a certain value without being taxed. For Petersen, that exemption was the lifeblood of his shoe business. Without it, he’s sunk, forced to compete with corporate behemoths like Nike, who can easily absorb the added costs.
Petersen didn’t vote for Trump because he believed in thoughtful economic reform or a coherent trade policy—he voted for him because he wanted to “own the libs.” And now, the libs aren’t the ones paying the price. He is.
Back in 2016, he was one of Trump’s loudest critics, accusing him of being a “socialist” and calling his supporters “losers.” But by 2018, Petersen had traded his libertarian ideals for a shot at political relevance, hopping on the Trump train faster than you can say “MAGA.” He ran for Senate in Missouri as a Republican. Cowardice isn’t just abandoning your principles—it’s doubling down on a mistake even after it’s burned you. And that’s exactly what Petersen is doing now. Instead of admitting that he gambled on a bad bet, he’s sticking with Trump, even as the policies he supported destroy his business. His refusal to take accountability is the hallmark of a political opportunist, not a principled entrepreneur.
Under the Trump administration, the effective average tariff rate has climbed to 11.1%, leading to a projected $740 billion reduction in imports by 2025. That’s a 22% drop—enough to send shockwaves through supply chains and force countless small businesses to shut their doors. The tariffs are expected to shrink the U.S. GDP by 1% and cost the average household over $1,200 a year. But while middle-class families and small businesses like Petersen’s are bearing the brunt of these policies, corporate giants are doing just fine.
Published: May 10, 2025 12:48 pm