WASHINGTON — From holding back investments to considering moving abroad, businesses in the United States are bracing for more economic turbulence as the presidential campaign kicks into high gear — with fresh tariffs rolled out and promises of more.
Republican candidate Donald Trump has proposed at least a 10-percent tariff on imports and up to 60 percent on Chinese goods, intensifying levies he previously imposed on Beijing and others.Democratic nominee Kamala Harris, meanwhile, serves an administration that largely maintained Trump's tariffs and last month finalized further hikes on $18 billion of Chinese products.
'We pay for it, our exporter helps, and ultimately the consumer ,' he said. 'This is the problem with any tariff.''Dampening effect'Uncertainty looms as November's election approaches, but businesses prefer predictability.A September survey involving the Richmond and Atlanta Federal Reserve banks found that 30 percent of firms reported postponing, scaling down, delaying or canceling investment plans due to election uncertainty.'It stops you from action.
Firms Brace For More Tariffs As Election Nears
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