Tariffs, Costs, and Tax Planning
Trump’s tariffs continue to reshape the cost landscape for U.S. businesses. Higher import costs on steel, aluminum, electronics, and auto parts are hitting the manufacturing, construction, and automotive industries the hardest. Increasing supply costs and mounting labor pressures are also affecting restaurants, hospitality, and retail businesses. For companies dealing with these increased costs, the impact is more than operational; it directly affects tax planning and strategy.