WASHINGTON—President Donald Trump on May 4 touted his economic policies, from tax cuts and tariffs to deregulation, at a White House event for small-business owners from across the country. He said the United States is thriving despite conflict in the Middle East.
“You’re the lifeblood of the American economy, and with your help, we’re truly making America great again,” Trump said during a speech to celebrate this year’s National Small Business Week.
“Our country is booming now, despite the fact that we’re in a—I call it a mini-war, because that’s all they are.”
More than 130 small-business owners representing manufacturing, food production, defense, energy, and retail attended the event, according to the White House. Energy Secretary Chris Wright and Small Business Administration (SBA) Administrator Kelly Loeffler were also present.
Mark Lamoncha, CEO of Humtown, was named the 2026 National Small Business Person of the Year by the SBA. Humtown, a three-generation family-owned business, has become a global leader in 3D-printed sand cores and molds.
Trump spoke for about 68 minutes, highlighting policies that he said have benefited small businesses, including tax cuts and tariffs.
He touted stock market highs, “even with this military operation, call it what you want.”
“We can’t let Iran get a nuclear weapon,” he said.
“We did a little detour, and it’s working out very nicely,” he added, referring to the war in Iran.
Thanks to the One Big Beautiful Bill Act, Trump noted, “12 million American small businesses got an average tax cut of over $7,000.”
He said his administration is eliminating “129 nonsense regulations” for every new regulation implemented.
Speaking at the event, Loeffler said that last year, the SBA guaranteed $45 billion in loans to 85,000 small businesses through local banks.
“That’s an all-time record at the SBA, and we did it with 53 percent fewer staff at the agency,” she said.
There are more than 36 million small businesses in the United States, which employ roughly 46 percent of the private sector workforce and create roughly nine out of 10 net new jobs, according to the SBA.
Rising oil prices due to the war in Iran have negatively affected business sentiment.
The small-business optimism index tracked by the National Federation of Independent Business dropped by 3 points to 95.8 in March, below the 52-year average of 98.
“The 20% Small Business Deduction and other supportive small business tax provisions in the Working Families Tax Cut Act have had many positives for small business owners,” Bill Dunkelberg, chief economist for the National Federation of Independent Business, said in a statement.
“However, the dramatic spike in oil prices has spooked consumers and owners alike. Small business owners are having to absorb those higher input costs and pass them along to their customers.”
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