WASHINGTON - From holding back investments to considering moving abroad, businesses in the US are bracing themselves 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 per cent tariff on imports and up to 60 per cent on Chinese goods, intensifying levies he previously imposed on Beijing and others.
Meanwhile, Democratic nominee Kamala Harris serves an administration that largely maintained Trump's tariffs and last month finalised further hikes on US$18 billion (S$23.5 billion) of Chinese products.
For Mr Robert Actis, whose manufacturing business has been caught in the tariff maelstrom, the future has looked clouded over the past five years.
Under Trump, he faced tariffs on steel and aluminium, and has struggled to find alternative suppliers for raw materials not produced in the country.
Fresh measures on the materials by the Biden-Harris administration have added to his woes.
"I would be very happy to buy from a US producer," said Mr Actis, who imports wires to make stucco netting used in construction, "but there is no one willing to do it." He has previously been granted tariff exemptions, but the annual applications are not always successful.
Denne historien er fra October 14, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 14, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Jung Ho-yeon takes on Hollywood in Disclaimer
The drama series marks the Squid Game star's first English-speaking role
French pianist Helene Grimaud plays with time
Acclaimed French classical pianist Helene Grimaud, who has earned a reputation for playing by her own rules, thinks there should be no contradiction between freedom and fidelity.
Eisner Award winner submitted her comic as practice
Erica Eng submitted her web comic Fried Rice for the Eisner Awards on a whim in 2020.
Two-time Booker Prize nominee almost gave up writing
Acclaimed Canadian novelist Esi Edugyan has had first-hand encounters with the vagaries of the publishing and book-selling worlds.
A frank, and funny, work about the female body
Cat Bohannon wrote her best-selling non-fiction debut Eve: How The Female Body Drove 200 Million Years Of Human Evolution (2023) while also having two children, completing a doctorate and surviving the Covid-19 pandemic.
SILAT WILL MOVE 'UPHILL'
SSF chief plans to improve governance, selection process and coaching quality
One C'ship lets go of 'a few dozen employees'
Mixed martial arts (MMA) organisation One Championship has laid off a number of employees - including those from its Singapore headquarters - on Oct 16.
EPL pays highest price for injuries
Players in Germany's Bundesliga are most likely to be injured among Europe's top five domestic leagues, but the English Premier League bears the most injury-related costs, according to a report published on Oct 16.
Cantona slams 'scandalous' decision to axe Ferguson
Manchester United's most successful manager Alex Ferguson will step down as a global ambassador after the club's part-owners Ineos ended his multi-million pound contract.
PROFLIGATE PORTUGAL LACK MAGIC: COACH
Martinez's men can't find way past stubborn Scotland, but have one hand on q-final spot