Good morning. President Donald Trump placed his planned 25% levy on imports from Mexico and Canada on hold for 30 days, following negotiations on Monday. A 10% tariff on goods from China did, however, go into effect at midnight. In response, China’s finance ministry said it will impose a 15% tariff on imports of U.S. coal and liquefied natural gas, and a 10% tariff on crude oil, agricultural machinery, large engine cars, and pick-up trucks. All of this has already led many U.S. small businesses to brace for higher costs.
Tariffs will not impact all businesses equally, Mark T. Williams, a master lecturer at Boston University’s Questrom School of Business, told me.
