With the threat of tariffs on Chinese goods looming, American businesses are scrambling to stockpile inventory, reevaluate sourcing, and brace for potential price hikes as they navigate a precarious trade environment under a second Trump administration, The Wall Street Journal reported.

American businesses are taking preemptive measures to shield themselves from the financial fallout of potential tariffs on Chinese imports promised by President-elect Donald Trump during his 2024 campaign. Trump has proposed raising tariffs on Chinese goods to 60%, forcing companies to stockpile goods, adjust pricing strategies, and explore alternative suppliers.

Jason Junod, co-founder of Bare Botanics, a skincare company based in Madison, Wisconsin, recently spent $50,000 to purchase a year’s supply of body brushes and exfoliating gloves from China.

Read more at Newsmax© 2024 Newsmax. All rights reserved.