Some companies are moving production from China, while others are stocking up on supplies before the new tariffs could hit
Businesses are preparing for a potential return of heavy taxes on imports if Donald Trump wins the election. He has proposed the most aggressive tariffs since the 1930s.
The former president plans to impose a 60% tariff on Chinese imports and 10–20% on goods from other countries, aiming to incentivize domestic production.
However, economists widely agree that the primary burden of tariffs would fall on domestic consumers and businesses, not foreign companies, despite Trump’s claims to the contrary.
Companies like AutoZone and Columbia Sportswear say they’ll need to raise prices, while others, including Stanley Black & Decker, are considering similar steps to manage rising costs.
Research suggests that American consumers’ potential household expenses would rise between $1,700 and $2,600 annually if the tariffs go into effect.
Several businesses are already looking for ways to deal with tariffs. Some companies, like Acme United and Newell Brands, are moving production from China to countries including India, Egypt, Thailand and the Philippines, while others are stocking up on supplies before the new taxes could hit.