The pieces they buy are mainly imported from countries like China, making their business sensitive to the effects of potentially higher tariffs.
That could mean that certain goods end up being excluded from tariffs, as was the case with tariffs Trump imposed during his first term.
Companies are being proactive, tooIt’s not just individuals trying to get ahead of potentially higher tariffs, large companies are too.
During Trump’s first term, when higher tariffs were levied on Chinese goods, “we were not proactive in pricing,” he said.
The steps that bigger businesses are taking, or plan to take, can ultimately lessen the blow consumers face from possibly higher tariffs, Lincicome said.
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