He thinks Trump is serious about his campaign promise to impose tariffs of 60% on all Chinese goods. American businesses are dusting off a playbook they used during Trump’s first term: stocking up on imported goods before tariffs are enacted.

Trump campaigned on a pledge to roll out a slew of tariffs, including for firms that had moved operations to Mexico, in a bid to restore jobs in the U.S. Economists have warned that such tariffs would amount to a serious blow to Mexico's export-dependent economy and have warned of a lesser hit to the U.

Donald Trump’s victory in the 2024 US presidential election sent shockwaves through the financial markets. US stocks surged to record highs, with the Dow Jones Industrial Average gaining more than 1,000 points in a single day for the first time since November 2022.

Numerous major U.S. corporations addressed tariffs at recent investor events and on conference calls, including some after the Nov. 5 election, when Trump edged out sitting Vice President Kamala Harris.