Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms
A mural by Berlin-based graffitti artist Eme Freethinker of US President Donald Trump and the lettering reading 'Made in China' is pictured on a wall at the Mauerpark public park in Berlin, Germany on April 26, 2025.
Image: Tobias Schwarz / AFP
Stockpiling is the reflex response by firms to the imposition of tariffs, but with the rapidly-changing position of the Trump administration, companies are finding that it isn't so straightforward this time around.
Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms.
Some companies didn't wait for Trump's April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the United States.
In the end, Trump backed down quickly on the "reciprocal" tariffs, pausing them for 90 days except for China.
That still left the global 10 percent tariff in place, as well as the 25 percent tariffs on European steel, aluminium and cars.