“”Trivium Packaging, a manufacturer of steel and aluminum containers…has shelved any expansion plans in the US for now, and the only hiring happening at its five US plants is to fill in staff losses due to attrition” because of the increased cost of the imported metal on which it relies, according to an April 17 Bloomberg report. Trivium was just one of the companies profiled in the article that “are putting hiring and expansion plans on hold while they come up with short-term plans to cope with the tariffs.”
Consumers are also changing their behavior in response to the trade war. Americans initially flocked to buy cars to beat anticipated price hikes. Purchases slowed as the expected price increases materialized, spurring the Trump administration this week to carve out some tariff relief for automakers.
But the same factors driving concerns about prices and availability regarding cars affect every other industry. According to the Federal Reserve’s latest Beige Book report on economic conditions, “uncertainty around international trade policy was pervasive” and “non-auto consumer spending was lower overall.”
Additionally, “several Districts reported that firms were taking a wait-and-see approach to employment, pausing or slowing hiring until there is more clarity on economic conditions” and “there were scattered reports of firms preparing for layoffs.”
Importantly, added the Beige Book analysis, “firms reported adding tariff surcharges or shortening pricing horizons to account for uncertain trade policy. Most businesses expected to pass through additional costs to customers.”
Basically, businesses and consumers alike are slowing spending and taking a wait-and-see attitude as they anticipate higher prices and economic disruption from the Trump administration’s protectionist policies. Americans expect the tariffs to be painful and they’re not happy about it.”
https://reason.com/2025/04/30/americans-doubt-trumps-trade-war-will-benefit-them