Reported about 11 hours ago
North American businesses are reacting to President Trump's recently imposed tariffs of 25% on goods from Canada and Mexico and 10% on Chinese imports, which could drastically affect various industries. Executives are now confronted with the challenge of managing increased costs, with many acknowledging that these tariffs threaten to disrupt stability in cross-border trade and production. Companies, particularly in the automotive sector, are exploring options like shifting production back to the U.S. or rerouting shipments to mitigate the impact. However, smaller firms lacking global operations may struggle, and ultimately, consumers may bear the brunt of rising prices due to these tariffs.
Source: YAHOO