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Trump tariffs on China will soon bring 'irreversible' damage to many American businesses

  • The Trump administration exempted technology products like iPhones from Chinese tariffs, but many U.S. Businesses face irreversible damage due to 145% tariffs on other goods.
  • Canceled orders from China are now common, with companies halting imports of furniture, toys, and more, according to Alan Murphy, CEO of Sea-Intelligence.
  • Many businesses must cancel orders because of high tariffs, leading to product shortages, as stated by Stephen Lamar, CEO of the American Apparel & Footwear Association.
  • Maersk warns that the drop in container bookings may result in significant restructuring of services to North America, affecting shipping and logistics further.
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NBC Bay Area broke the news in San Francisco, United States on Saturday, April 12, 2025.
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