Small business owners are weighing in on the tariffs President Donald Trump unveiled against virtually all U.S. trading partners on Wednesday afternoon.

President Donald Trump said the United States will put at least a 10% tariff on all goods coming into the country, with much higher tariffs for some of America's closest trading partners, in a sweeping move that could revamp global trade and the U.S. economy.

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.