Businesses are having to figure out whether to absorb the cost of import taxes, pass them along, or a mixture of both approaches — all up and down supply chains.
“Trade is hugely important to agriculture, and consistency is important to agriculture,” said Brian Duncan, president of the Illinois Farm Bureau. “We need some signed agreements that provide some certainty and some security.”
New vehicle sales jumped in the spring as consumers tried to get ahead of tariff-induced price increases. Sales have since cooled, but major price hikes haven’t yet arrived.