Trump Tariffs Trigger Import Chaos

FINANCE
Trump Tariffs Trigger Import Chaos

When employees at customs broker Logistics Plus logged in Thursday morning, they were flooded with emails from anxious clients. Half were from importers scrambling to bring goods in before new tariffs hit; the other half sought guidance on navigating the changes. President Trump’s sweeping new tariffs—announced under the “Liberation Day” banner—raised both costs and complexity, forcing businesses to untangle a web of customs rules and regulations.

For many, this marks the first time they’ve dealt with tariffs, having long benefited from free trade deals with countries like Mexico and Canada. Now, they must pay customs brokers or attempt to decipher the U.S. Harmonized Tariff Schedule (HTS), an 18-pound manual of trade classifications. The HTS isn’t always clear—computers, for example, are still categorized as “automatic processing machines.”

Worse, tariff details may not appear on the HTS website in time. Instead, importers must dig through White House fact sheets or the Federal Register. Trump’s tariff decisions often bypass standard regulatory procedures, leaving importers guessing and at risk of penalties, even for honest mistakes.

Businesses importing regularly must also post a customs bond—typically $50,000—to cover potential shortfalls or fines. For high-volume goods like oil or corn, that figure can soar. Specialized firms can help, but it adds another layer of cost and complexity.

“People got used to duty-free imports from Canada and Mexico,” said Jill Hurley of Livingston. “Now they’re scrambling to adjust.”

Beyond higher costs, the real burden may be the new bureaucratic maze U.S. firms must now navigate.

TECH
OnlyFans Founder Bids for TikTok

Tim Stokely, founder of OnlyFans, and the crypto-focused Hbar Foundation have submitted a last-minute bid to acquire TikTok, according to Reuters. The proposal was made through Zoop, a social media platform co-founded by Stokely and entrepreneur RJ Phillips. Zoop aims to transform TikTok by distributing 80% of its ad revenue to creators and users, aligning with its broader mission of democratizing the creator economy.

RJ Phillips emphasized the bid isn’t just about taking control of TikTok—it’s about building a new model where communities directly benefit from the value they help generate. The Hbar Foundation, which manages the Hedera crypto network’s treasury, is supporting the effort financially and technologically.

The U.S. government has set an April 5 deadline for ByteDance, TikTok’s Chinese parent company, to sell the platform or face a ban for its 170 million American users. National security concerns over Chinese influence remain central to the push for a sale. While former President Trump extended the potential ban to allow time for a deal, he has indicated he could offer further flexibility.

As the deadline approaches, interest in acquiring TikTok has grown. Major players like Microsoft, Oracle, Perplexity AI, Elon Musk, and even MrBeast have been linked to potential bids. Amazon also reportedly made a last-second proposal for TikTok’s U.S. operations.

Calling it a “David vs. Goliath” moment, Phillips told Wired that Zoop wants to restructure the industry by fairly compensating creators and rewarding users who engage with content—shifting power away from traditional social media giants.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.