North American companies brace themselves for fallout from Trumps tariffs [Video]

WASHINGTON – For North American companies, the “wait and see” moment on tariffs is over.

US President Donald Trump imposed a 25 per cent levy on goods from Canada and Mexico, along with a 10 per cent tariff on goods from China, in what could be the opening stages of a full-scale trade war likely to create new headaches for executives who have been wrangling with higher costs for several years.

Tariffs on goods imported from the US’ three largest trade partners could upend industries, from autos to consumer goods to energy.

Executives have been able to deflect questions about dealing with tariffs before the Feb 1 announcement, and many wanted to avoid antagonising Mr Trump’s White House after he took office. That non-response may no longer be possible.

“All CEOs are bewildered by these non-strategic tariff tantrums being directed at our closest allies instead of adversaries,” said Professor Jeffrey Sonnenfeld, who teaches at the Yale School of Management in …