The U.S. will import less and our exports will likely also suffer because of retaliatory tariffs from other countries.
Entrepreneurs who depend on imports from China have some big — and potentially expensive — decisions to make.
Shops that rely on imported products are trying to figure out how to weather the cost of tariffs and how to keep their shelves stocked.
There are extenuating circumstances, namely the rush to import goods before tariffs hit.
The trade deficit grew as imports increased by $16 billion in March, the Census Bureau reported.
“I've had to pick up the pieces so many times that I know that we can get through it,” said Farmgirl Flowers CEO Christina Stembel.
Prices are expected to rise across the board — from construction materials to consumer electronics and clothing.
Ahead of the planned 25% auto and retaliatory tariffs for April 2, Gretchen Blough, a customs broker manager, talks about the impact of trade and tariffs on importers.
With trade U.S. agreements in the balance, Mexican authorities make a show of stemming the flow of illegal imports.
Some goods, like produce from Mexico and home appliances from China, could get more expensive soon.