Utah businesses dealing with uncertainty caused by Trump administration’s tariffs
Mar 24, 2025, 10:30 AM
SALT LAKE CITY — It’s been about three weeks since the Trump administration imposed a round of tariffs on Canada and Mexico, with more set to go in place on April 2. The moving target has Utah businesses trying to adjust.
Derek Miller, president of the Salt Lake Chamber, said the tariffs are just the latest in a long list of uncertainties that business owners have had to deal with after the pandemic and the near double-digit inflation.
“Businesses have dealt with a fair amount of uncertainty over the last several years,” he said. “… Now we’re dealing with a little bit of a different kind of uncertainty, and it’s the uncertainty that’s coming from tariffs.”
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Miller said most businesses don’t like to keep inventory—normally.
“If you happen to be a business right now that has inventory, you’re actually probably unintentionally in a very good position because all of that inventory was pre-tariff.”
Miller said most of the businesses he’s spoken with are either looking for new suppliers to avoid the tariffs or are using inventory that was purchased before they went into place.
He said the businesses that have inventory may be in a position to gain market share by offering that inventory at a discount.
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