Small businesses say they're pulling back on hiring amid tariff uncertainty

Some small business owners say they are pulling back on hiring as tariff-driven cost increases make bringing on new employees an untenable proposition.

As they bear added expenses on imported inputs and goods, companies are looking to trim costs wherever possible, including labor. That can mean pressing pause on hiring, cutting workers' hours and even laying off staff, business owners say. Smaller enterprises often preempt bigger corporations in reducing their headcount, as they typically have less financial cushion to tide them over during downturns and periods of economic uncertainty.

Mike Roach, owner of Paloma Clothing, a men's and women's boutique in Portland, Oregon, told CBS MoneyWatch that while he has not yet laid off any salespeople, he is cutting down on labor-related spe