Companies prepare for potential Trump tariffs as uncertainty looms

Companies are preparing for potential tariffs from President-elect Donald Trump, who plans to impose a 25% tax on goods from Canada and Mexico and a 10% tax on imports from China. This has prompted businesses to stockpile and adjust supply chains. Footwear and hardware companies are already shifting manufacturing away from China to mitigate risks. Retailers are discussing price increases due to anticipated tariffs, which could lead to higher consumer prices and possible shortages. Despite uncertainty about the actual implementation of these tariffs, businesses are taking precautions. Small business owners, like handbag designer Sherrill Mosee, are exploring new suppliers and partnerships to navigate the expected challenges.