Inside the planning for Trump's new tariffs war, from the biggest company to the smallest family business
President Trump is planning to impose 25% tariffs on Mexico and Canada on Saturday,and 10% tariffs on China, makinga signature campaign promise and core economic philosophy of his administration reality, with implications for everything from oil to autos to the U.S consumer. But for many companies across the economy, the preparations for a new tariffs war began long ago — well before Trump won the 2024 election.
From large companies in consumer sectors like Walmart, Columbia Sportswear and Lenovo, to a wide range of critical goods for infrastructure projects, importers moved quickly throughout 2024 to get as much product as they could into the U.S.
Conversations with clients on bringing in their products ahead of possible tariffs began as far back as March of last year, says Paul Brashier, vice president of global supply chain at ITS Logistics, with components used in infrastructure projects one of the biggest product segments being brought into the country early.
"A lot of those [infrastructure/construction] budgets were made two or three years ago, and an additional 20% in cost could blow those budgets out of the water," Brashier said. "So you need to get them in before the tariffs so you can protect the bottom line."
Solar panels, backup power supply items, racks, and lithium batteries used in data centers were identified by ImportGenius as some additional items being frontloaded.
"When it comes to the impact of tariffs, companies are very granular and they're very concrete," said Josh Teitelbaum, senior counsel of Akin, which has been advising his clients to prepare for swiftness with President Trump's tariff plans and not get bogged down in debates over the efficacy of tariffs as economic policy. "They're not interested