Trump's Tariffs Loom Over Economy as Businesses Cancel China Orders

WASHINGTON

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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.