Tariffs are causing Fastenal, an industrial supplier, to split its imports into separate shipments to Canada and the United States, creating “a more expensive supply chain” than its customary, unified North American approach.
And Nike, the world’s largest athletic apparel and footwear maker, is scrutinizing its operations for savings to offset the $1 billion in new import taxes it expects to pay this year. The company plans “a surgical price increase” this fall.
Six months of the president’s disruptive trade policy has unsettled business leaders and policymakers alike.
With a blizzard of new levies on major nations and selected product sectors, Trump has lifted the average tax on imported goods from just above 2 percent in January to around 15 percent, the highest mark since the early 1940s, according to Capital Economics, in London.
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