From pharmaceuticals to steel components, companies worldwide are scrambling to adapt as the US-China trade turbulence reshapes global markets. 🌐💊 ‘We need to pivot,’ says Alan Urmeneta of PNP Pharmaceuticals, which is now hunting for Asian partners amid rising tariffs and uncertainty under US President Trump’s policies.
🔍 What’s driving the shift? Trump’s steel, aluminum, and automotive tariffs — up to 25% on imports — have left firms reeling. Canada, once reliant on US buyers for 75% of exports, is a prime example. LabelPak Printing, for instance, is slashing US-focused sales to ‘put more emphasis on the Canadian business,’ founder Ken Gallie told NewspaperAmigo.com.
🇪🇺 Others, like a sports equipment manufacturer, are betting big on Europe. And while new trade deals could emerge, experts warn instability will linger. 💡 'Smart businesses won’t rely solely on US partners again,' said consultant Mike Chisholm, highlighting the hunt for stability in Asia and beyond.
📈 The takeaway? Global trade isn’t just about tariffs — it’s about trust. And right now, companies are hedging their bets. 🌟
