Trump’s Tariff Shifts Are a Warning for Corporate America to Expect Whiplash

President who touted ‘beautiful word’ alters plans for levies
Investors and corporate leaders parse White House priorities

President Donald Trump departs a signing ceremony in the President’s Room during the 60th presidential inauguration at the US Capitol on Jan. 20.Photographer: Melina Mara/The Washington Post/Bloomberg

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By Ted Mann, Liz Capo McCormick, and Esha Dey

January 21, 2025 at 1:28 AM UTC

Updated on

January 21, 2025 at 2:39 PM UTC

This article is for subscribers only.

Donald Trump opened his second term as US president with a market-jolting recalibration of his tariff policies, in a sign of turbulence ahead for investors and corporate executives.

Early Monday, it looked like Trump would hold off on his campaign vow to place steep tariffs on imports from China, Mexico and Canada.