Businesses brace for Trump’s Liberation Day
The nation approaches President Donald Trump's most expansive tariff plans yet, targeting all U.S. trading partners.
(NBC)-As the nation approaches President Donald Trump’s most expansive tariff plans yet—targeting all U.S. trading partners—businesses across the country are growing increasingly concerned about the potential fallout. Trump has promised that the tariffs will be reciprocal, stating, “Whatever they charge us we charge them, but we’re being nicer than they were.”
However, for businesses relying on imported materials and ingredients, the tariffs could mean higher costs, ultimately driving up prices for American consumers. From car dealerships to distilleries, the fear of rising costs is growing.
At Adams Toyota in Kansas City, Scott Adams expressed his concern about the affordability issues customers are already facing. “We’re all already bumping into affordability issues with the costs of interest rates now,” he said. For distilleries like J. Rigger & Co., president Andy Rigger points out that some necessary materials just aren’t available in the U.S. “As a manufacturer, there are a lot of times where you have products that you can’t really get in America,” he explained. The impact is also being felt in the fashion industry. Christine Dilullo, owner of Epiphany Bridal Boutique in Carmel, California, noted that some designers have already raised prices due to tariffs. “Some designers have already sent us tariff costs, and some have decided to hold off,” she said.
Amid these uncertainties, today’s elections in two states could provide a glimpse into public opinion on Trump’s agenda. In Wisconsin, Trump advisor Elon Musk has poured millions into a state Supreme Court race, which could lead to redrawing the state’s key battleground congressional maps. Local voters like Brooke Buege and Krista Borrego voiced concerns about outside influence on the election, with Borrego emphasizing the broader implications. “There are other races that might be swayed by what we decide here,” she said.
Meanwhile, in Florida, special elections are underway to fill two congressional seats left vacant by Trump appointees. Republicans are eager to protect their razor-thin House majority, but some within the party are expressing concerns over the economic impact of the ongoing trade war. Rep. Don Bacon (R-Nebraska) remarked, “It should be a level playing field. But I think in the end, a trade war doesn’t help anybody.”
As the White House remains tight-lipped about the specifics of the tariffs—such as the tax rates for each country and the exact products affected—Trump has promised to provide more details in a Rose Garden event tomorrow.
