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Trump’s Tariff Delay Sparks ‘Race to the Border’ for Businesses
Posted
February 5, 2025
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3:10Now PlayingOver a frantic 72 hours, President Donald Trump’s threat of punishing new tariffs on Canada, Mexico and China sent stocks and currencies tumbling and shock waves through world trade.
It also sent manufacturing businesses scrambling for cover.
A North Carolina-based maker of concrete equipment rushed to get its machines onto trucks bound for Canada. The CEO of the world’s biggest producer of embroidered patches had to swap a Saturday night family dinner for a conference call with executives. A trade lawyer in Ohio was emailing his manufacturing clients after midnight on Sunday.
While Trump campaigned hard on the promise of new tariffs, the pace of developments in recent days has rattled producers and forced them to game out ways to protect their operations. Even after the president put a one-month hold on the Mexico and Canada duties on Monday, executives are still very much on watch for additional tariffs.
Nathan Sheets, Global Chief Economist at Citi, discusses how an all-out trade war could ultimately impact American investors and consumers. Dr. Sheets speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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