The suspended tariffs will cover a range of products, including plywood, pasta, fruit juices, coconut oil, pine nuts, agave syrup and plant bulbs.

The move comes two days after the U.K. government legislated to take control of the steelmaker from its Chinese owner Jingye Group in a bid to save the Scunthorpe site.

Most big businesses operating global supply chains have learned a lot of lessons in the art of agility over the last few years.

The approved measures, set to be formally adopted in October 2025 before entry into force in 2027, will become mandatory for large oceangoing ships over 5,000 gross tonnage.

Even balanced against elevated levels earlier this year, total 2025 cargo volume could show a net decline of 15% or more unless the situation with tariffs changes.

Virtually every company in the manufacturing sector is taking a hard look at where it makes product, and how it stands to be affected by the new round of tariffs.

The global trading system is in a state of chaos. Will American manufacturing benefit from it?

By investing in education and following export compliance regulations, businesses not only protect their own interests, but also maintain the security and integrity of international trade.

Prices may rise but, in the absence of price-gouging, they will not rise as much as is currently being trumpeted.

If anything, Trump's delay in some of his tariff plans is extending the uncertainty that has already begun to drag on business and consumer sentiment.