Why Trump's potential tariffs are making business owners anxious

The Indicator from Planet Money

A freshly re-inaugurated President Trump is reportedly considering making his first moves on tariffs: a 10% tariff on Chinese imports and a 25% tariff on imports from Canada and Mexico, both of which he says could start as early as next week.

If the U.S. slaps tariffs on foreign products, U.S companies that import foreign goods, and their customers, will bear the cost. But, before any of that happens, businesses can also face a less tangible cost—uncertainty.

Today on the show, we hear from a couple business owners who experienced Trump's first trade war. And we'll learn how the uncertainty from tariffs, or just the threat of them, can have ripple effects throughout the economy.

Related episodes:
How Trump's tariffs plan might work
Trump's contradictory trade policies

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by
Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Learn more about sponsor message choices: podcastchoices.com/adchoices

NPR Privacy Policy

To listen to explicit episodes, sign in.

Stay up to date with this show

Sign in or sign up to follow shows, save episodes and get the latest updates.

Select a country or region

Africa, Middle East, and India

Asia Pacific

Europe

Latin America and the Caribbean

The United States and Canada