Experts at Columbus Consulting, a consulting firm focused on retailers, say their clients have already shifted budgets to account for increased costs. The firm is recommending that clients hold off on drastic measures – such as moving production into other countries or aggressively stockpiling extra inventory in advance – until they know what exactly will go into effect.
"We need to see the definition of what's going to be tariffed and how much and when, and specifically which products," said Jeff Gragg, managing partner at Columbus Consulting. "Until we get more specifics around it, overreacting can only put you in a dangerous position."