Major U.S. companies are adjusting fast, but few are escaping the cost. President Donald Trump is preparing to impose sweeping new tariffs by 1 August, pushing the U.S. toward a trade regime unseen since the 1940s.
From canned food giants to tech exporters, the pressure is building. Conagra, which owns brands such as Hunt’s and Birds Eye, says inflation on tinplate steel is forcing it to raise prices. Nike expects to pay $1 billion in new tariffs this year and is already planning what it calls “surgical” price increases.
Fastenal, a U.S. industrial supplier, is now splitting shipments between Canada and the U.S., disrupting its supply chain. Yedi Houseware, a kitchen appliance importer, says it has paid more in tariffs this year than in the past decade combined.
Trump's policy has lifted the average U.S. import tax from around 2% to roughly 15%, the highest in more than 80 years. While some new deals are being struck — including with the UK, Vietnam, and Indonesia — U.S. allies are also looking elsewhere.
“The U.S. is no longer seen as the leader of the global trading system,” said Alan Wolff, former WTO deputy director general. “It will do what it wants, regardless of past obligations.”
That shift is visible on multiple fronts. European officials are now expanding deals with South America and the UAE. China is forging new ties with Europe. And U.S. companies such as Hewlett Packard are relocating production to Thailand, Vietnam, and Mexico.
The impact of tariffs extends beyond geopolitics. Inflation is back in focus. Treasury Secretary Scott Bessent claimed victory over “inflation propagandists,” yet consumer prices are rising — up 2.7% in June year-on-year.
Trump says the tariffs will restore U.S. manufacturing and end unfair foreign trade practices. But the data tells a mixed story. Factory construction is down. Manufacturing jobs have dipped. And companies such as Conagra and Fastenal are raising prices just to keep pace.
Some firms are using Artificial Intelligence (AI) and other tools to cut losses. Cardinal Health says it reduced its expected tariff costs from $450 million to $75 million by using smarter logistics and pressing suppliers.
But others feel cornered. Yedi’s CEO called his firm “collateral damage” and said the president’s claim that foreign governments pay the tariffs is false.
Trump’s strategy of unpredictability is driving a new global realignment. The U.S. is betting on pressure. But the world is already moving to adapt.
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U.S. Secretary of State Marco Rubio said the Iranian government is likely weaker than at any point in recent history, warning that protests could reignite despite a violent crackdown that has killed thousands.
Palestine’s ambassador to the United Nations, Riyad Mansour, has said the permanence and success of the Gaza ceasefire depend on a full Israeli withdrawal from the territory and an end to efforts to dictate Gaza’s future.
“This is a strategic wake-up call for all of Europe” French President Emmanuel Macron warned on Wednesday, 28 January, as he hosted Danish Prime Minister Mette Frederiksen and Greenland’s premier, Jens-Frederik Nielsen, in Paris to reaffirm France’s support for Greenland’s sovereignty.
President Shavkat Mirziyoyev has announced wide-ranging reforms to policing and public safety in Tashkent, positioning the capital as a pilot city for a new, service-oriented law-enforcement model aimed at responding to modern security challenges and improving everyday safety for residents.
The death toll from nationwide protests in Iran has climbed to 6,126, according to the U.S.-based Human Rights Activists News Agency (HRANA).
France’s National Assembly has approved a bill banning access to social media for children under 15, a move backed by President Emmanuel Macron and the government as part of efforts to protect teenagers’ mental and physical health.
Israel has recovered the remains of the last remaining hostage held in Gaza, the military said on Monday, fulfilling a key condition of the initial phase of U.S. President Donald Trump's plan to end the war in the Palestinian territory.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
South Korea has said it will uphold its trade agreement with the U.S. despite President Donald Trump’s announcement of higher tariffs on South Korean goods.
China is supplying key industrial equipment that has enabled Russia to speed up production of its newest nuclear-capable hypersonic missile, an investigation by The Telegraph has found, heightening concerns in Europe over Moscow’s ability to threaten the West despite international sanctions.
Iranian citizens and businesses are continuing to feel the impact of a nationwide internet shutdown imposed amid a sweeping crackdown on anti-government protests, with access to the global web still largely cut off more than two weeks later.
U.S. Secretary of State Marco Rubio said the Iranian government is likely weaker than at any point in recent history, warning that protests could reignite despite a violent crackdown that has killed thousands.
Severe storms have disrupted cargo flows across Europe, shutting terminals and slowing vessel movements for some of the world’s biggest carriers.
The Kremlin has reiterated that Volodymyr Zelenskyy is welcome in Moscow for talks with Vladimir Putin, stressing that any meeting must be fully prepared and aimed at achieving concrete results.
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