President-elect has threatened to levy tariffs on goods from Canada, Mexico and China, which can burden businesses
With Donald Trump threatening to impose steep tariffs upon his return to office this month, US firms are bracing for impact. But an analysis of Trump’s last presidency identified one way to boost their chances of avoiding the levies: donating to the Republican party.
While the initial stage of the president-elect’s tariff agenda is designed to hit America’s largest trading partners – Canada, Mexico and China – it is US firms that pick up the bill, paying duties imposed on the goods they buy from these markets. Such additional costs can prove devastating.
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