Global business community is struggling to adjust with US tariff
(MENAFN) President Donald Trump’s sweeping executive order on Thursday night, imposing steep new tariffs on countries without updated trade agreements with the U.S., has sent shockwaves through the global business community. The move, which affects more than 90 countries, is being met with a mix of anxiety, frustration, and cautious relief depending on each country’s position in the new framework.
The order follows Trump’s earlier unveiling of a revised model for trade deals. Countries that have not finalized such agreements now face sharply increased tariffs on exports to the U.S. For many businesses, this represents a significant shift in their operational and pricing strategies.
Among the hardest hit is Canada, which saw tariffs on its exports to the U.S. jump from 25% to 35%. Meanwhile, Mexico received a temporary reprieve—Trump granted a 90-day extension to allow negotiators more time to finalize a trade deal and avoid immediate penalties.
Jaime Chamberlain, president of Chamberlain Distributing in Nogales, Arizona—a company that imports millions of boxes of produce from Mexico—expressed cautious optimism. Speaking to a radio programme, he said:
“We are actually very fortunate that the Mexican negotiators along with the US negotiators are keeping calm and keeping cool heads. Both countries really don't want to get this wrong.
And if it takes 90 more days to get it right, I think it's very worthwhile.”
However, even with the temporary delay, uncertainty looms. Business owners and importers are now preparing for potential disruptions if no deal is reached by the end of the grace period.
The global trade community is closely monitoring Washington, as industries ranging from agriculture and manufacturing to automotive and technology brace for the long-term consequences of the Trump administration’s aggressive tariff reset.
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