Businesses brace for potential impact of Trump's proposed tariffs

President-elect Donald Trump has proposed significant tariffs on imports, including 10% to 20% on various goods and up to 60% on Chinese products. Despite this, many corporate leaders are downplaying the potential impact, focusing instead on their ability to adapt. Some companies, like Steve Madden and Traeger, are proactively reducing their reliance on Chinese production to mitigate tariff risks. Steve Madden plans to cut its Chinese production in half, while Traeger is exploring alternative manufacturing options in Asia. In contrast, many global brands, including BMW and Ikea, remain largely unconcerned about the tariff threats. Executives express confidence in their supply chains and are waiting to see how tariffs will be implemented before making significant changes.