According to Business Insider, U.S. President Donald Trump’s full-on trade war with China has dragged on for nearly four months and American businesses are starting to really feel the pain.
Surveys from Markit and the Federal Reserve showed increasing costs for businesses that are in some cases being passed on to consumers due to Trump's tariffs.
Additionally, major companies like Tesla, 3M, Ford, and Harley-Davidson are feeling the burn and expect millions of dollars in costs from the tariffs.