While the conversation surrounding tariffs has largely centered on their potential impact on global business, they are just as likely to disrupt the operations of solo entrepreneurs, exactly the kind of sellers that make up marketplaces like Etsy.
Speaking at Semafor’s World Economy Summit on Thursday, Etsy chief executive officer, Josh Silverman, shared how the trade war, throwing the global economy into turmoil, would impact the 8 million sellers that power Etsy.
“So many of the policies we’re talking about that are targeting corporations could actually end up turning small businesses into collateral damage,” Silverman said.
Etsy is also concerned about the looming elimination of the de minimis exemption, which currently allows goods under $800 to enter the U.S. duty-free. It recently announced a spin-off of Reverb, the marketplace for musical instruments that it acquired in 2019 for $275 million, to focus on its core business.
But amid these challenges, the company has a secret …