Washington, April 30: American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president's massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers, perhaps within weeks. And the higher costs and paralysing uncertainty could exact an economic toll: US consumers are in the biggest funk since COVID-19 hit five years ago, and economists say recession risks are climbing. An early sign of the damage is expected to emerge on Wednesday when the Commerce Department releases its first look at first-quarter economic growth.

The economy is forecast to have expanded at an annual pace of just 0.8 per cent from January through March, according to a survey of economists by the data firm FactSet. That would be the slowest quarter of growth in nearly three years and would be down from a healthy 2.4 per cent in the last three months of 2024. Many economists suspect things were even worse. Asked how much of deterioration in the world's biggest economy could be traced to Trump's erratic policies, Boston College economist Brian Bethune said: 슬롯사이트œAll of it.' As he promised on the campaign trail, Trump has upended decades of American trade policy. He's been imposing 슬롯사이트� then sometimes suspending 슬롯사이트� big import taxes, or tariffs, on a wide range of targets. He's currently plastered a 10 per cent levy on products from almost every country in the world.슬롯 머신 사이트 추천US Tariff: South Korea and US To Hold Working-Level Talks This Week on Donald Trump Administration슬롯사이트™s Tariff Scheme.

He's hit China 슬롯사이트� America's third-biggest trading partner and second-biggest source of imported goods 슬롯사이트� with a staggering 145 per cent tariff. China has responded with retaliatory tariffs of its own 슬롯사이트� 125 per cent on American products. The take-no-prisoners trade war between the world's two biggest economies has shaken global financial markets and threatened to bring US-China trade to a standstill. Gene Seroka, executive director of the Port of Los Angeles, warned last Thursday within two weeks arrivals to the port 슬롯사이트œwill drop by 35 per cent as essentially all shipments out of China for major retailers and manufacturers has ceased.' Seroka added that cargo from Southeast Asia also 슬롯사이트œis much softer than normal with tariffs now in place.'

After Trump announced expansive tariffs in early April, ocean container bookings from China to the United States dropped 60 per cent -- and stayed there, said Ryan Petersen, founder and CEO of Flexport, a San Francisco company that helps companies ship cargo around the world. With orders down, ocean carriers have reduced their capacity by cancelling 25 per cent of their sailings, Flexport said. Many companies tried to beat the clock by bringing in foreign goods before Trump's tariffs took effect. In fact, that is a big reason that first-quarter economic growth is expected to come in so low: A surge in imports swelled the trade deficit, which weighs on growth.슬롯 머신 사이트 추천'Those Canals Would Not Exist Without the United States of America': US President Donald Trump Says American Ships Should Be Allowed To Travel Through Panama and Suez Canals for Free of Charge.

By stockpiling goods ahead of the trade war, many companies 슬롯사이트œwill be positioned to ride out this storm for a while,' said Judah Levine, research director at the global freight-booking platform Freightos. 슬롯사이트œBut at a certain point, inventories will run down.' In the next few weeks, Levine said, 슬롯사이트œyou could start seeing shortages ... it's likely to be concentrated in categories where the US is heavily dependent on Chinese manufacturing and there aren't a lot of alternatives and certainly quick alternatives.' Among them: furniture, baby products and plastic goods, including toys.

Jay Foreman, CEO of toymaker Basic Fun, said he paused shipments of Tonka trucks, Care Bears and other toys from China after Trump's tariff plan was announced in early April. Now, he's hoping to get by for a few months on inventory he's stockpiled. 슬롯사이트œConsumers will find Basic Fun toys in stores for a month or two but very quickly we will be out of stock and stock product will disappear from store shelves, 슬롯사이트� he said. Kevin Brusky, who owns APE Games, a small tabletop game publisher in St. Louis, has about 7,000 copies of three different games sitting in a warehouse in China. The tariff bill of about USD 25,000 would wipe out his profit on the games, so he is launching a Kickstarter campaign next week to help defray the cost of the duties.

Still, his sales representative is urging him to import the games if possible, because he expects that retailers will soon be desperate for products to sell. If he does import the games, Brusky is considering raising its price from USD 40 to at least USD 45. Worried that tariffs will push up prices and drive away customer, retailers have put expansion plans on hold for next year, said Naveen Jaggi, president of retail advisory services in the Americas for real-estate firm JLL. 슬롯사이트œWhat they are telling us is: We want to slow down the decision to open up stores and commit to leases' because they want to watch how the consumer reacts.'

Consumers already seem to be freaking out. The Conference Board, a business group, reported Tuesday that Americans' confidence in the economy fell for the fifth straight month to the lowest level since the onset of the COVID-19 pandemic. Nearly one-third of consumers expect hiring to slow in the coming months, nearly matching the level reached in April 2009, when the economy was mired in the Great Recession. Consumer spending accounts for about 70 per cent of US GDP so if nervous consumers stop shopping, the economic fallout could get ugly. Economist Joseph Brusuelas of the consultancy RSM pegs the probability of a recession within the next 12 months at 55 per cent.

Even gloomier is Torsten Slok, chief economist at Apollo Global Management. He sees a 90 per cent chance of a recession by this summer if Trump's tariffs remain in place. Businesses are already planning on significant disruptions, particularly from the 145 per cent duties on goods from China, he said. 슬롯사이트œYou see that in company reactions: Orders are down, (spending) plans are down, costs are up, prices paid are up,슬롯사이트� he said. He expects large layoffs by trucking firms and retailers as soon as late May, as the slowdown in goods coming into US ports from China works its way through the supply chain.

Flexport CEO Petersen said shortages of products are 슬롯사이트œnot a tragedy." 슬롯사이트œIt's going to be much more about the layoffs that follow,슬롯사이트� Petersen said. "That's where the real pain is going to be felt. Shortages mean companies aren't selling stuff and therefore don't have the profits that they need to pay their workers.' He said the stakes are so high that he expects the US and China to deescalate their trade war and bring down the tariffs. In fact, Trump and his advisers have sounded more conciliatory lately. Treasury Secretary Scott Bessent, for example, said that the triple-digit tariffs the US and China have slapped on each other are not sustainable.

But more abrupt shifts in trade policy risk increasing the uncertainty that has paralysed businesses and worried consumers. Moreover, said economist Cory Stahle of the Indeed Hiring Lab, 슬롯사이트œconditions may worsen in the coming months if people start behaving like they are in a recession. Softening some of the recent trade policy changes may ease some business concerns, but it may already be too late.'

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