How Trump’s tariffs are reshaping global markets 

It’s been a week since President Trump announced sweeping new tariffs, taxes on imports from nearly every country.  

Wall Street is reeling, other countries are trying to strike a deal with the U.S., and several members of Congress have introduced a plan to intervene and claw back trade and tariff authority from the president. 

In the meantime, how are companies – both domestic and international – reacting to the news? 

Tariffs are already spurring investment in the U.S. 

According to the White House, several companies have already chosen to move production stateside to skirt the tariffs. Here are a few that have already been announced: 

  • Hyundai is building a $5.8 billion steel plant in Louisiana to supply U.S. auto factories.  
  • Honda is moving Civic hybrid production from Mexico to Indiana to avoid tariffs.  
  • Apple is planning to produce AI servers in the U.S. and hire 20,000 workers, reportedly to qualify for tariff relief. 
  • LG is considering moving refrigerator manufacturing to Tennessee.  
  • Campari is looking to expand liquor production in the U.S. 
  • Lavazza will produce all of its coffee locally in the U.S. going forward. 

Mass Exit from China 

While they may not be coming all the way to the U.S., some companies are moving out of China to avoid the steep 104 percent tariffs the Trump administration announced on Tuesday, April 8. For the White House, companies moving production out of China is a win. 

  • Apple will import more iPhones from India instead of China. 
  • Shein, a Chinese fashion retailer, is planning to move its production out of the country.  
  • Nike, Build-A Bear, and Williams-Sonoma all moved production out of China and into other southeastern Asian countries in response to tariffs during President Trump’s first term. 

Layoffs, Higher Prices, Delays for Consumers  

Some companies are eating the costs of the tariffs, while others are passing much of the costs onto American consumers. And some companies were hit so hard by the news they chose to lay off American workers.  

  • Jaguar Land Rover and Audi announced they would temporarily stop exporting cars to the U.S. 
  • Stellantis shuttered its Chrysler and Jeep factories in Mexico and Canada and laid off 900 American workers who supplied the factories. 
  • Howmet, a supplier of Boeing and Airbus, is suspending some of its contracts and is not delivering orders due to the tariffs. 
  • Feastables, a chocolate company owned by the YouTuber “MrBeast,” is considering moving production out of the U.S. 
  • Micron Technology is planning to impose a “tariff surcharge” on its computer chips going forward.  
  • Nintendo is delaying pre-orders of its Switch 2 gaming console in the U.S., citing uncertainty around the tariffs. 

Will the benefits outweigh the costs of President Trump’s tariffs?