Trump plans new tariffs on imports, firms brace for impact

President Trump is planning significant tariffs, potentially reaching 25%, on imported vehicles, pharmaceuticals, and semiconductors to encourage domestic production. While the final details are yet to be confirmed, he indicated that these tariffs could be implemented as soon as April. Local business owners express mixed feelings, with some fearing that increased costs will burden consumers, particularly in the pharmaceutical sector. In contrast, others believe that the impact on vehicle prices might be minimal, estimating only a slight increase. The broader business community is bracing for uncertainty as many companies voice concerns about how these tariffs will affect operations and market conditions. The potential tariffs have sparked discussions across earnings calls, highlighting their significance in current economic considerations.