Americans' Tariff Concerns Rise Amid Trade Uncertainty

Americans are increasingly worried about the financial impacts of tariffs, with concerns rising to 67% in April, reflecting anxiety across all age groups and genders, especially among younger generations who feel more vulnerable to income disruptions. The economic outlook in Canada has softened due to trade shocks and tariff-related uncertainties, but recent tariff exemptions for many Canadian exports and a pause on extreme U.S. tariffs have somewhat eased the situation, offering cautious optimism. Beyond tariffs, non-tariff barriers pose significant risks to businesses due to their unpredictability and complexity, prompting calls for strategic diversification of export destinations and internal strengthening of enterprises, particularly in countries like Vietnam. Meanwhile, the Trump Administration has intensified enforcement actions on trade compliance, increasing investigations into tariff evasion and export control violations, signaling a tougher regulatory environment for companies engaged in international trade. Firms are advised to update compliance policies and prepare for stringent scrutiny by agencies such as U.S. Customs and Border Protection and the Department of Justice to avoid severe penalties. Together, these developments highlight a challenging global trade environment characterized by heightened tariff concerns, regulatory enforcement, and shifting economic dynamics.