Trump’s tariff rattles US importers; Woldenberg’s CEO calls it ‘finish of days’

US companies that rely closely on Chinese manufacturing are reeling after former President Donald Trump imposed sweeping new tariffs on imports from China — elevating them to an unprecedented 145% in retaliation for what he known as unfair commerce practices.
As reported by the Associated Press, the dramatic tariff hikes — rolled out unpredictably and at velocity — have surprised American importers. Rick Woldenberg, CEO of Learning Resources, a Chicago-area academic toy firm, mentioned he deliberate for a 40% tariff hike however was blindsided when the speed jumped greater than threefold.
Woldenberg’s firm, which has made merchandise in China for 4 many years, now faces an estimated $100 million tariff invoice for 2025, up from $2.3 million final 12 months. “Honest to God, no exaggeration: It feels like the end of days,” he advised AP.
Trump’s tariff escalation follows years of rising tensions between the US and China and is a component of his push to convey manufacturing again to American soil. However, trade leaders argue that US infrastructure and labour markets will not be geared up to exchange China’s manufacturing capability in a single day.
According to AP, China nonetheless dominates key client sectors — supplying 97% of America’s imported child carriages, 96% of umbrellas, 95% of fireworks, and 90% of combs.
Businesses that constructed their provide chains round Chinese factories now face an unsure future. “American consumers created China,” mentioned Joe Jurken of the ABC Group, which helps US corporations handle Asian provide chains. “They got addicted to cheap pricing.”
The tariffs are already having ripple results:
MGA Entertainment, maker of L.O.L. and Bratz dolls, says the worth of some toys might double by the vacation season. CEO Isaac Larian advised AP the tariffs are forcing the corporate to chop orders and scale back Chinese sourcing from 65% to 40%.
The Edge Desk, a furnishings startup, has scrapped manufacturing plans in China because of the tariffs and is now taking a look at Germany and Italy for manufacturing, regardless of larger prices.
Even US -based manufacturers like Little Tikes are affected as a result of they rely upon elements sourced from China, highlighting how deeply built-in international provide chains have turn out to be.
Trump has additionally signaled that different manufacturing hubs like India, Vietnam, and Cambodia might face related tariffs after a 90-day grace interval, additional shaking international enterprise confidence.
The Associated Press famous that the White House initially mentioned tariffs on Chinese items could be 125%, earlier than correcting the determine to 145% — together with a beforehand introduced 20% levy aimed toward pressuring China over the fentanyl disaster.
China responded by slapping its personal 125% tariffs on US items, efficient Saturday.
The unpredictability of the coverage rollout is as damaging because the tariffs themselves, enterprise homeowners say. “There is so much uncertainty,” Larian advised AP. “And no business can run on uncertainty.”
The financial toll could possibly be important. The Yale Budget Lab estimates that Trump’s tariffs might scale back US GDP progress by 1.1 share factors in 2025. Inflation expectations are additionally climbing — the University of Michigan’s newest survey reveals shoppers now count on long-term inflation of 4.4%.
For Woldenberg, the affect is each monetary and existential. His firm’s 10,000 molds, put in in Chinese factories over many years, will not be simply relocated. “It’s not like you just bring in a canvas bag, zip it up and walk out,” he mentioned.
“There is no idle US manufacturing hub, full of skilled engineers, waiting to pick up this work,” Woldenberg advised AP. “In an instant, snap of a finger, they’re kaput.”