Trump’s Tariffs Impact $1.4 Trillion Worth of Imported Goods

The value of imported goods affected by tariffs imposed by Trump since the beginning of his presidency is estimated at $1.4 trillion, according to Bloomberg. This figure is equivalent to five times the Greek GDP and surpasses the amount targeted during his first term when tariffs were primarily focused on Chinese products. Major corporations are now seeking ways to mitigate these impacts. For example, pharmaceutical company Novo Nordisk A/S plans to increase domestic production for the U.S. market. Boeing faces potential supply chain disruptions, while Shein Group Ltd. incentivizes its top suppliers to establish new production capacities in Vietnam. Companies worldwide are strategizing against the tariff barriers, even as exceptions leave them searching for clarity. In corporate boardrooms, teams are assessing the financial implications, sales impacts, profit margins, and market shares. Many have established ‘tariff teams’ to alleviate the strain caused by these measures.